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Mondelez International profit misses consensus by 23.2% in Q1

Mondelez International Inc. said its first-quarter normalized net income came to 29 cents per share, compared with the S&P Capital IQ consensus estimate of 38 cents per share.

EPS increased 16.7% year over year from 25 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $479.5 million, an increase of 12.9% from $424.9 million in the prior-year period.

The normalized profit margin rose to 6.2% from 4.9% in the year-earlier period.

Total revenue fell 10.2% on an annual basis to $7.76 billion from $8.64 billion, and total operating expenses declined 12.5% on an annual basis to $6.79 billion from $7.76 billion.

Reported net income grew 104.1% from the prior-year period to $316.4 million, or 19 cents per share, from $155.0 million, or 9 cents per share.