Earnings Preview: Mondelez 4Q seen profitable

NEW YORK (AP) -- Mondelez International Inc. reports fourth-quarter results after the market closes Wednesday, providing a snapshot of how the maker of Oreo, Cadbury and Nabisco is faring after its split from Kraft Foods last year.

WHAT TO WATCH FOR: In the previous quarter, its first as an independent company, CEO Irene Rosenfeld said revenue growth was hurt in part because the company had some "short-term executional missteps." For example, it was slow to react to weaker gum purchases in Brazil and price adjustments for chocolate in Russia. She said those issues would be "largely resolved by the end of the year."

The company's results were also hurt by the strong dollar. For companies that do a lot of business overseas, sales in other countries translate to fewer dollars back home when the dollar is strong. But Mondelez in November affirmed operating income guidance of $1.50 to $1.55 per share for the year. Beginning in the fourth quarter, the company also noted that financial results for Kraft Foods will be reflected as discontinued operations.

WHY IT MATTERS: The split last year was intended to let the two companies focus on a more targeted set of brands. Mondelez, which makes international snack and candy brands, is expected to be more profitable and grow faster than Kraft Foods, which focuses on North American grocery brands like Miracle Whip, Oscar Meyer and Jell-O.

Mondelez is seeing particularly strong growth in China, India, the Middle East and Africa.

WHAT'S EXPECTED: Analysts on average expect profit of 37 cents per share on revenue of $9.64 billion, according to FactSet.