Mondelez Soars on Modest Earnings Beat

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Mondelez Soars on Modest Earnings Beat
Credit: © Reuters.

By Kim Khan

Investing.com - Sometimes doing good enough is more than enough for Wall Street.

That proved true for international snack and drinks company Mondelez Thursday, as it posted decent quarterly results and steady guidance, but saw its stock shoot up in morning trading.

Mondelez (NASDAQ: MDLZ ) shares rose 6%.

The maker of Oreos, Toblerone and Tang reported a fourth-quarter profit of 61 cents per share and sales of $6.91 billion.

That compares with expectations for a profit of 60 cents per share and sales $6.84 billion, according to forecasts compiled Investing.com.

Looking ahead, Mondelez (NASDAQ: MDLZ ) Mondelez said is still sees organic net revenue growth of 3%-plus and high-single-digit-percent growth for adjusted EPS.

Wells Fargo (NYSE: WFC ) said earlier this week “cost savings can fund reinvestment while savings and operating leverage enable margin expansion."

The stock had been treading water for the last six months, down about 0.5% before today’s bounce.

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