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7/30/2019, 10:08 PM (Source: TeleTrader)
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Mondelez's EPS jumps 162% to $0.55 in Q2

Confectionery giant Mondelez Inc. posted 162% higher diluted earnings per share for the second quarter of 2019 compared to the same period a year ago, the financial release from the company showed on Tuesday. At the same time, net revenues for the three month period through June stood at $6 billion, declining slightly from $6.1 billion in the corresponding period in 2018.

Mondelez's operating income more than doubled to $1.02 billion as the operating margin improved from 7.9% to 16.9% year over year. The company upped its net earnings from $320 million to $808 million on an annual basis, the report showed.

"Our more consumer-centric mindset is driving investments in advertising and promotion of our global and local brands, as well as accelerated innovation and improved distribution capabilities, building a sustainable foundation for long-term growth and value creation for our shareholders," noted CEO Dirk Van de Put.

Stocks were up 1.81% in after-hours trading after the results were published.

Breaking the News / NI