Mondelez 3rd-quarter net income falls 29 percent

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Associated Press

Posted on November 7, 2012 at 6:02 PM

DEERFIELD, Ill. (AP) — Mondelez International Inc. says it net income fell 29 percent in the third quarter, as the stronger dollar weighed on revenue.

But the results for its first quarter as an independent company topped expectations.

Mondelez, formerly known as Kraft Foods Inc., spun off its North American grocery business and changed its name last month. The company makes snacks including Oreo cookies, Cadbury and Nabisco.

Under the Kraft Foods structure, net income fell to $652 million, or 36 cents per share in the June-to-September period, from $922 million, or 52 cents per share, last year.

On an adjusted basis, operating income totaled 37 cents per share and revenue fell 5 percent to $8.3 billion.

Analysts expected income of 36 cents per share, on revenue of $8.65 billion, according to FactSet.

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