Mondelez forecasts steep drop in annual revenue on hovering cocoa costs
(Reuters) -Cadbury-parent Mondelez Worldwide forecast a bigger-than-estimated drop in its annual revenue on Tuesday, signaling pressures from excessive enter prices and mushy demand for its confectionery, together with candies and biscuits. Shares of the Chicago-based firm fell almost 4% after the bell. They have been down almost 18% in 2024. Costs of cocoa — a … Read more