Oreo-maker Mondelez shares rise, as higher prices continue to boost results

Shares of Mondelez International Inc.
MDLZ,
-1.78%
ran higher after hours on Thursday after the snack maker reported second-quarter results that beat estimates and raised its full-year profit and sales forecasts. The results marked yet another quarter in which price increases helped make up for muted sales volumes, a measure of actual snacks sold. The company — known for Oreo, Chips Ahoy and Ritz crackers — reported net income of $941 million, or 69 cents a share, compared with $748 million, or 54 cents a share, in the same quarter last year. Revenue rose to $8.51 billion from $7.27 billion in the prior-year quarter, and landed above FactSet estimates for $8.22 billion. Adjusted earnings came in at 76 cents a share, above FactSet estimates for 69 cents. Mondelez said it expected growth of both organic net sales and adjusted earnings per share of more than 12%, up from an earlier outlook of 10% or more. Shares rose 2.9% after hours.