Oreo maker Mondelez misses Wall St. expectations
NEW YORK (AP) — Mondelez (MON-duh-leez) reported a fourth-quarter profit shy of Wall Street expectations as the Oreo cookie maker struggled with weak cookie sales in China.
The company, which also makes Chips Ahoy and Ritz, says it expects its core revenue to grow about 4 percent for the year ahead. It had previously forecast growth of 4 percent to 5 percent.
For the quarter, Mondelez International earned $1.77 billion, or $1 per share. That compares with $569 million, or 32 cents per share, a year ago.
Not including one-time items, it earned 42 cents per share in the latest quarter. That was short of the 44 cents per share Wall Street expected.
Revenue slipped slightly to $9.49 billion. That was also below the $9.6 billion analysts expected.