Mondelez Reports Lower Revenue as Dollar Weighs

Reuters

Cadbury chocolate and Oreo cookies maker Mondelez International Inc reported its seventh straight quarter of lower net revenue, hurt by a strong dollar and falling sales in Europe, its biggest market.

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Net income attributable to the company fell to $406 million, or 25 cents per share, in the second quarter ended June 30, from $622 million, or 36 cents per share, a year earlier.

Net revenue fell 9.2 percent to $7.66 billion from a year earlier.

The company also increased its share buyback plan by $6 billion to $13.7 billion.

(Reporting by Sruthi Ramakrishnan in Bengaluru, Editing by Anil D'Silva)