July 28 (Reuters) - Cadbury parent Mondelez International ( MDLZ ) beat Wall Street estimates for second-quarter revenue and profit on Tuesday, helped by steady demand for its chocolates and biscuits.
A global cocoa surplus drove down cocoa costs, helping relieve margin pressures at Mondelez ( MDLZ ) and giving it more room to lure shoppers with promotions and value packs.
The company reported net revenue of $9.36 billion for the second quarter, compared with analysts' average estimate of $9.20 billion, according to data compiled by LSEG.
It posted quarterly adjusted profit of 73 cents, compared with the estimate of 68 cents.
Mondelez ( MDLZ ) had previously said it was also broadening its zero-sugar and gluten-free Oreo ranges as customers pay closer attention to sugar consumption and nutritional choices.
The company expects annual organic net revenue to grow 2% compared with flat to up 2% forecast earlier. It, however, maintained its annual adjusted profit forecast of flat to up 5%.