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The
company, whose shares were up 3.5 percent in premarket trading,
reaffirmed its 2016 forecast.
Mondelez's chief commercial officer, Mark Clouse, will leave the
company to take over as chief executive of Pinnacle Foods Inc <PF.N>.
Mondelez said it was not planning to get a replacement for
Clouse.
The company's net revenue fell 16.8 percent to $6.46 billion in
the three months ended March 31, while analysts on average were
expecting a fall to $6.42 billion, according to Thomson Reuters
I/B/E/S.
Mondelez's sales have now declined for ten quarters in a row as
consumers increasingly avoid high-calorie or sugary food in
favor of less-processed, healthier food.
In response, Mondelez has resorted to raising prices in markets
such as Latin America, cost-cutting measures and selling
businesses such as its coffee brands to focus on snacks and
candy.
Net income attributable to Mondelez rose to $554 million, or 35
cents per share, from $324 million, or 19 cents per share.
Excluding items, the company earned 48 cents per share.
(Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by Savio
D'Souza)
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