Mondelez International Inc. reported on Tuesday that its net revenue in the fourth quarter of its fiscal 2023 reached $9.3 billion after increasing 7.1% from the same trimester in 2022.
Gross profit increased 12.8% year on year to $3.5 billion while operating income surged 43.0% to reach $1.2 billion. In the fourth three-month period in 2023, diluted earnings per share (EPS) came in at $0.70, 66.7% higher than the corresponding timeframe a year ago. Mondelez posted its 2024 outlook for net revenue growth between 3% to 5%.
"As we enter 2024, we continue focusing on strong execution, supported by a significant increase in investments behind our brands, capabilities, and talent. We remain confident that we are well positioned for sustainable top- and bottomline growth in the years ahead," CEO Dirk Van de Put noted. The company's stock fell 3.07% in extended trading after the quarterly results were unveiled.
