Mondelez shares drop in after-hours trading, expects low range '13 growth
APNEW YORK -- Shares of Mondelez International Inc. dropped in after-hours trading Wednesday after the maker Oreo, Cadbury and Nabisco said sales didn't grow as strongly as Wall Street expected.
February 15, 2013, 12:04 am TWN
After splitting from Kraft Foods last year, the company also says it expects 2013 revenue growth to be in the low range of its long-term growth target of 5 to 7 percent. But it raised the range of its guidance for operating income by 2 cents to between US$1.52 and US$1.57 per share to reflect more favorable currency exchange rates.
Kraft and Mondelez went separate ways so the companies could each focus on a more targeted portfolio of products. Kraft took North American grocery brands like Oscar Mayer, Jell-O and Maxwell House and Mondelez took international snack brands that were expected to help it grow at a faster rate.