Oreo maker Mondelez’s revenue falls for 11th straight quarter

By: |
July 27, 2016 8:18 PM

Oreo cookie maker Mondelez International Inc's quarterly net revenue fell nearly 18 percent, the 11th straight quarter of decline, as a strong dollar eroded the value of sales from markets outside the United States.

mondelez.reu.lThe company, which also makes Cadbury chocolates, said net revenue fell to $6.30 billion in the second quarter ended June 30 from $7.66 billion, a year earlier. (Reuters)

Oreo cookie maker Mondelez International Inc’s quarterly net revenue fell nearly 18 percent, the 11th straight quarter of decline, as a strong dollar eroded the value of sales from markets outside the United States.

The company, which also makes Cadbury chocolates, said net revenue fell to $6.30 billion in the second quarter ended June 30 from $7.66 billion, a year earlier.

However, net income attributable to Mondelez rose to $464 million, or 29 cents per share, from $406 million, or 25 cents per share, a year earlier.

Last month, Mondelez offered to buy chocolate maker Hershey Co in a $23 billion cash-and-stock deal, an offer Hershey rejected.

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