Mondelez posts revenue at $5.91B in Q2, down 2.5%

Tuesday, 28. July 2020 22:17

Mondelez International Inc. announced on Tuesday its financial report for the second quarter of 2020, unveiling its revenue slid 2.5% to $5.91 billion to meet market expectations. Net earnings were at $544 in the same trimester, falling 32.3% year-on-year, while earnings per diluted share slumped 30.8% annually to land at $0.38.

The Illinois-based firm said its operating profit stood at $713 million, dipping 30.4% compared to the same three-month period in 2019, while gross profit declined 5.6% year-over-year to $2.33 billion in the third quarter.

"I am pleased with our second quarter performance given the challenging environment, with top-line performance driven by Developed Markets and strong share gains in all key markets. Our Emerging Markets performance improved throughout the quarter as store closures eased and consumers in many markets were increasingly able to access our products," the company's CEO Dirk Van de Put commented on the results.

Mondelez traded slightly lower following the announcement, losing around 0.5% in after-hours trading.

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Breaking the News / GA