How did MDLZ's Q1 2024 earnings surprise the market?

Mondelez Intl Inc (MDLZ) delivered a positive earnings surprise in Q1 2024, surpassing market expectations in both earnings per share (EPS) and total revenues.

1. **Earnings Per Share (EPS) Surprise**:
- The consensus among analysts for MDLZ's Q1 2024 EPS was $0.77.
- However, the company reported an EPS of $0.84, resulting in a positive surprise of $0.07, which is a 9% beat.
- This EPS surprise indicates that Mondelez's performance for the quarter exceeded analysts' forecasts, reflecting strong profitability.

|code|Ticker|Name|Date|Estimate EPS YoY|Estimate Revenue YoY|market_code|
|---|---|---|---|---|---|---|
|MDLZ|MDLZ.O|Mondelez|20230630|7.812499999999989|21.449704142011836|185|
|MDLZ|MDLZ.O|Mondelez|20230930|7.24637681159421|12.550607287449392|185|
|MDLZ|MDLZ.O|Mondelez|20231231|10.000000000000009|11.524609843937576|185|
|MDLZ|MDLZ.O|Mondelez|20240331|11.249999999999996|8.00942285041225|185|

2. **Revenue Surprise**:
- Analysts had anticipated revenues of $9.3 billion for the quarter.
- Mondelez Intl Inc surpassed these expectations with total revenues amounting to $9.31 billion, marking a positive revenue surprise of $24 million.
- This growth in revenues, coupled with the EPS surprise, suggests that Mondelez has outperformed market projections in terms of both profitability and sales.
3. **Stock Reaction**:
- Despite the earnings beat, Mondelez Intl Inc saw a minor decline of 0.45% in its stock price, reaching $75.80 after the earnings report.
- This reaction could be attributed to broader market conditions or other factors influencing investor sentiment, as the positive earnings surprise might not be enough to override concerns about slower growth expectations in 2024.
4. **Analyst and Investor Sentiment**:
- Prior to the earnings release, analysts had a bullish outlook on Mondelez, with a consensus rating of "Strong Buy".
- Investor sentiment was also positive, with InvestorsObserver assigning a "Bullish Sentiment" score to the stock.
- The company's consistent performance in exceeding earnings expectations could bolster confidence in its long-term growth prospects.

In conclusion, Mondelez Intl Inc's Q1 2024 earnings report showcased robust financial performance, exceeding market expectations in both EPS and revenues. While the stock experienced a slight dip post-announcement, the overall positive sentiment surrounding the company's performance and growth prospects suggests a favorable outlook for investors.