By Sabela Ojea

Mondelez International Inc. raised its outlook for the year after first-quarter sales beat analysts' expectations.

The Chicago-based maker of Oreo cookies and Triscuit crackers guided for organic net revenue growth of at least 10%, up from a prior guidance in the range of 5% to 7%.

Mondelez raised its forecast for adjusted earnings per share growth on a constant currency basis to more than 10%, versus the prior outlook of a high single-digit increase.

Its competitor candy maker Hershey also reported raised its guidance for the year Thursday following a jump in sales in its latest quarter.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

April 27, 2023 16:38 ET (20:38 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
Mondelez (NASDAQ:MDLZ)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Mondelez Charts.
Mondelez (NASDAQ:MDLZ)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Mondelez Charts.