The Rising Influence of Rising Affluence

[DewDiligence]

MDLZ lowered guidance for 2013 organic sales growth* to 4% from the prior guidance of 5%; more important, MDLZ gave initial guidance of 4-5% for organic sales growth in 2014, less than most analysts had expected:

http://finance.yahoo.com/news/oreo-maker-mondelez-sees-cookie-235729291.html

2013 non-GAAP EPS guidance is now $1.57-1.62 (up slightly from the prior guidance of $1.55-1.60) due to a lower than expected tax rate.

In 3Q13, the bright spot was organic sales growth of 17% in Latin America and 13% in Eastern Europe, the Middle East and Africa.

*Sales growth excluding acquisitions, divestitures, and currency movements.