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Mondelez International profit misses consensus by 40.9% in Q3

Mondelez International Inc. said its third-quarter normalized net income amounted to 24 cents per share, compared with the S&P Capital IQ consensus estimate of 41 cents per share.

EPS declined 22.2% year over year from 31 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $391.8 million, a decrease of 25.7% from $527.0 million in the prior-year period.

The normalized profit margin fell to 5.7% from 6.3% in the year-earlier period.

Total revenue decreased 17.8% year over year to $6.85 billion from $8.34 billion, and total operating expenses decreased 17.7% on an annual basis to $6.00 billion from $7.30 billion.

Reported net income rose 704.0% on an annual basis to $7.27 billion, or $4.46 per share, from $903.6 million, or 53 cents per share.