Friday 09 December 2022

Mondelez declining for 11th straight quarter

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MILAN – Mondelez International’s quarterly net revenue fell nearly 18 percent, declining for the 11th straight quarter. The 17.7% slump was driven by Mondelez’s deconsolidation of the coffee business and the Venezuela operations, as well as currency headwinds, the company said.

The Deerfield, Illinois-based company said it had net income of 29 cents per share. Earnings, adjusted for restructuring costs and non-recurring costs, came to 44 cents per share.

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