Key Highlights

● Adjusted Earnings of 78 cents a share beat the 71 cents analysts expected.

● Net Revenue rose 2.3% to $9.97 billion, led by Volume and mix rather than pricing.

● Adjusted gross Margin expanded 380 basis points to 34.2%.

● The company kept its 2026 outlook for organic growth of at least 2%.

Mondelez International (NASDAQ:MDLZ) shares were up 6.81% at $66.79 in pre-market trading as of 8:23 a.m. ET Friday, according to pre-market data, one of the strongest moves among large US companies this morning. Another source had the stock up 6.1% as early as 4:04 a.m. ET, and a third tracker later showed a gain of 7.29%, building on a 1.07% rise on Thursday.

A snacks beat on a tech-sell morning

The maker of Oreo cookies, Cadbury and Milka chocolate, Ritz crackers and Trident gum reported third-quarter results after Thursday's close. Adjusted earnings came in at 78 cents a share, ahead of the 71 cents analysts expected, according to market data, and up 5.5% from a year earlier on a constant-currency basis. GAAP earnings were $1.02 a share.

Net revenue rose 2.3% to $9.97 billion, according to the company's filing. Organic net revenue, which strips out currency moves and deals, grew 2.1%, and the mix of that growth stood out: volume and mix contributed 1.8 percentage points while pricing added only 0.3 points. For a packaged-food company, growth led by volume rather than price increases is often read as a sign of healthy consumer demand.

The margin story behind the jump

The biggest surprise was profitability. Adjusted gross margin expanded by 380 basis points to 34.2%, according to market data. That kind of improvement in a single quarter suggests that input costs eased and productivity savings came through, giving the company more room to invest in its brands without raising prices aggressively. The company did not detail the drivers, so that reading is an inference.

Mondelez also stood by its 2026 outlook. It still expects organic net revenue growth of at least 2%, adjusted earnings-per-share growth of flat to 5% in constant currency and free Cash Flow of about $3 billion. "We are resolute in delivering volume-led, compounding earnings growth that creates value for shareholders," chairman and chief executive Dirk Van de Put said in the release.

Index role, sector backdrop, risks and what to watch

Mondelez is a member of the Nasdaq-100, where it is one of a handful of consumer-staples companies in an index dominated by technology. That makes it a natural beneficiary on a day like this one, when investors are rotating away from AI-exposed stocks. Nasdaq-100 futures were down about 2.6% around 8 a.m. ET, according to market quotes, while the Consumer Staples Select Sector SPDR fund was up 2.08% pre-market, the best-performing sector fund, according to market data.

Other food and beverage names were also higher. A pre-market table at 8:23 a.m. ET showed Keurig Dr Pepper (NASDAQ:KDP) up 3.03%, PepsiCo (NASDAQ:PEP) up 2.60%, General Mills (NYSE:GIS) up 2.54% and Kraft Heinz (NASDAQ:KHC) up 2.51%, with its automated notes describing defensive buying as oil hit six-month highs and tech stocks sold off. Colgate-Palmolive (NYSE:CL) rose 5.09% after raising its 2026 guidance.

Risks remain. Pre-market gains in defensive stocks can fade if technology shares bounce later in the day. Consumers face pressure from oil above $100 a barrel on Strait of Hormuz tensions, and University of Michigan sentiment hit a five-month low earlier in October. Higher energy and transport costs could also squeeze the margin gains that drove this quarter. Mondelez's sales are heavily international, so currency swings remain a factor.

Investors will watch whether the stock holds its gap at the 9:30 a.m. ET open, plus Friday's Employment Cost Index and the Chicago PMI. Mondelez has typically reported fourth-quarter results in late January or early February; no date was confirmed.