Mondelez International, Inc. stock research
FY2023 Q3
Mondelez International (MDLZ) Gross Margin — Quarter Ended Sep 30, 2023
Revenue and gross profit increased compared to both the prior quarter and the same quarter last year. Gross margin improved year-over-year but declined slightly from the previous quarter.
Gross margin takeaway
Quarter ended Sep 30, 2023 · FY2023 Q3
Revenue and gross profit increased compared to both the prior quarter and the same quarter last year. Gross margin improved year-over-year but declined slightly from the previous quarter.
- The year-over-year gross margin improvement was driven by gross profit growing faster than revenue, while cost of revenue remained relatively stable compared to the prior year quarter.
- Compared to the immediately preceding quarter, revenue and gross profit rose, but cost of revenue increased at a higher rate, leading to a lower gross margin. Versus the same quarter one year earlier, all metrics improved, with gross margin higher.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
38.7%
Gross profit
$3.5B
Revenue
$9.0B
Cost of revenue
$5.5B
Quarter-over-quarter change
-0.7 pts
Year-over-year change
+5.0 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Mar 31, 2023 | $9.2B | $3.4B | $5.7B | 37.6% |
| Jun 30, 2023 | $8.5B | $3.4B | $5.2B | 39.4% |
| Sep 30, 2023 | $9.0B | $3.5B | $5.5B | 38.7% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Jun 30, 2023
-0.7 pts
Year-over-year change
Sep 30, 2022
+5.0 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The year-over-year gross margin improvement was driven by gross profit growing faster than revenue, while cost of revenue remained relatively stable compared to the prior year quarter.
Compared to the immediately preceding quarter, revenue and gross profit rose, but cost of revenue increased at a higher rate, leading to a lower gross margin. Versus the same quarter one year earlier, all metrics improved, with gross margin higher.
Monitor the relationship between cost of revenue and revenue, as the sequential margin decline and the filing's mention of European operations and geopolitical risks may affect future cost trends.