NORTHFIELD, IL -- Mondelez International Inc. revenue fell short of its forecast for the second time in its two quarters as an independent company.
Net profit for the fourth quarter was $534 million, or 30¢ a share, down from $830 million, or 47¢ a share, a year earlier. Revenue fell 1.9% to $9.5 billion during the period.
The maker of Oreo cookies, Trident gum and Cadbury chocolate saw organic revenue rise 3.7%, which was slightly weaker than its forecast for mid-single-digit growth of at least 4%.
Mondelez blamed weaker-than-expected performance on lower coffee prices, sales interruptions related to the separation of its businesses and continued weakness in the gum segment. In the third quarter, the company pointed to "short-term executional" issues in Brazil and Russia, that it said have since improved.
Kraft Foods Group spun off from its parent company in October, forming a stand-alone North American grocery business with brands like Maxwell House, Kraft and Oscar Mayer and a separate international snacks business named Mondelez.
Mondelez said it expects 2013 revenue growth to be in the low range of its long-term growth target of 5% to 7%. But it raised the range of its guidance for operating income to a range of $1.52 to $1.57 a share, up from its earlier forecast of $1.50 to $1.55 per share.