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Mondelez International profit misses consensus by 17.0% in Q2

Mondelez International Inc. said its second-quarter normalized net income came to 33 cents per share, compared with the S&P Capital IQ consensus estimate of 39 cents per share.

EPS increased 16.5% year over year from 28 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $535.3 million, a gain of 11.8% from $478.8 million in the prior-year period.

The normalized profit margin rose to 7.0% from 5.7% in the year-earlier period.

Total revenue fell 9.2% on an annual basis to $7.66 billion from $8.44 billion, and total operating expenses decreased 10.9% from the prior-year period to $6.60 billion from $7.41 billion.

Reported net income declined 33.4% from the prior-year period to $410.8 million, or 25 cents per share, from $616.3 million, or 36 cents per share.