Mondalez Earnings Decline From Last Year, But Meet Expectations

Mondelez International Inc. said it had net income of $7.3 billion, or $4.46 per share, in the third quarter, up from $902 million, or 53 cents per share for the same period last year. Adjusted earnings were 42 cents per share versus 50 cents per share in 2014. The FactSet consensus was 41 cents. Revenue was $6.8 billion, down 17.8% from $8.3 billion the year prior. The FactSet consensus was $6.8 billion. The company said it repurchased $3.1 billion in shares through the first nine months of 2015 at an average price of $38.69 and paid $736 million in dividends. Mondelez shares are up 28.3% for the year so far. The S&P is up 0.3% for the same period.

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