, Mondelez\n \n International said in its second quarter earnings call Thursday. “We feel good about continued consumer confidence,” the company said on its earnings call, saying the Chicago-based manufacturer continued to drive robust demand in its core categories of chocolates and biscuits. It expects a 12% organic net revenue growth compared to an analyst estimate of 10%, driven in part by high demand for its snacks offsetting the high cost of goods.
In the second quarter, net revenue increased 17% to $8.51 billion. Analysts predicted revenue of about $8.21 billion. US grocery prices stayed steady in June after ticking up in May. It’s notable there was strong demand for snacks as extreme weather, the war in Ukraine, avian flu and higher costs along the supply chain increased global food prices. The company lagged in Europe, due to “expected disruption driven by retailer negotiation.