Bengaluru — Mondelez International beat Wall Street’s profit and revenue estimates in the third quarter, as demand for its key brands such as Oreo cookies and Trident gum rose in Europe and Latin America and the company cut costs. Shares of the world’s second-largest confectionary company rose 4.9% to $41.20 in after-market trading on Monday. Mondelez’s organic revenue, a measure that excludes currency fluctuations, grew 3.2% in Europe and 5.4% in Latin America in the quarter, which marks the end of Irene Rosenfeld’s tenure as CEO. The company said its performance in Europe was helped by strong chocolate sales in Germany and the UK. However, sales in North America, its second-largest market, remain a concern. Net revenue from North America rose 1.3% but lagged behind smaller rival Hershey, which posted a 1.6% rise in sales in the region in October. North America was the only region performing below expectations but the company was confident in improving it in the future, Rosenfeld s...
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