Oreo maker Mondelez beats second-quarter estimates on steady demand

July 28 (Reuters) - Cadbury parent Mondelez International beat Wall Street estimates for second-quarter revenue and profit on Tuesday, helped by steady demand for its chocolates and biscuits.

A global cocoa surplus drove down the bean prices, helping relieve margin pressures at Mondelez and giving it more room to lure shoppers with promotions and value packs.

Volumes in North America, its biggest segment, were up 1.2 percentage points during the quarter.

“Its North America business accelerated in Q2 after a sluggish start to 2026, which could reflect a more resilient U.S. consumer — although the company noted that growth remains K-shaped as shoppers opt for either value packages or premium formats,” said eMarketer analyst Rachel Wolff.

Mondelez expects annual organic net revenue to grow 2% compared with flat to up 2% forecast earlier. Its shares were up 2% in extended trading.

Organic revenue in Latin America and Emerging Markets such as India grew 8.4% and 5.3%, respectively, during the quarter.

“Like other food companies, Mondelez is adjusting its portfolio to meet rising demand for smaller package sizes, and leaning on new product launches to increase shopper appeal,” Wolff said.

The company had previously said it was broadening its zero-sugar and gluten-free Oreo ranges as customers pay closer attention to sugar consumption and nutritional choices.

Its quarterly net revenue stood at $9.36 billion, compared with analysts' average estimate of $9.20 billion, according to data compiled by LSEG.

Adjusted profit of 73 cents also beat the estimate of 68 cents.