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The company said its decision to suspend its operations in
Russia would impact its annual profit by 4 cents per share.
Soaring costs of ingredients like coffee and sugar, as well as a
surge labor and transportation expenses have forced consumer
goods companies to raise prices, but demand has been resilient
as consumers coming out of pandemic curbs spend more.
Still, analysts and companies warned that demand could slow as
the Ukraine war and Indonesia's ban on palm oil exports result
in higher global food prices.
Net revenue rose 16% to $10.5 billion in the first quarter.
Analysts had expected revenue of $9.83 billion, according to
Refinitiv data.
(Reporting by Uday Sampath and Praveen Paramasivam in Bengaluru;
Editing by Arun Koyyur)
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