Mondelez International Inc raised its full-year organic revenue forecast on Tuesday, encouraged by higher demand for its Oreo biscuits and Cadbury chocolates in emerging markets.
The Oreo cookie maker has seen demand for its biscuits and snacks pick up across China, India, Russia and other emerging markets which had struggled to pull in sales last year while pandemic-led curbs kept people at home.
The company now expects full-year organic net revenue growth of more than 4%, compared with its prior forecast for an over 3% increase.
Net revenue from the company’s emerging markets segment rose nearly 20% to $2.29 billion in the second quarter ended June 30.
Total net revenues rose to $6.64 billion from $5.91 billion a year earlier, beating analysts’ average estimate of $6.42 billion, according to IBES data from Refinitiv.
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