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The Oreo cookie maker has seen demand bounce back across China, India, Brazil and other emerging markets after tepid sales last year when the economic toll of the pandemic dealt a sharp blow to consumer spending in those regions.
The chocolatier now expects full-year organic net revenue growth of about 4.5%, compared with its prior forecast of an over 4% increase.
Analysts on average were expecting organic revenue growth of 4.25%, according to IBES data from Refinitiv.
Net revenue for the third quarter ended Sept. 30 rose to $7.18 billion from $6.67 billion a year ago, topping analysts’ average estimate of $7.03 billion.
