Mondelez International, Inc. stock research
FY2024 Q2
Mondelez International (MDLZ) Gross Margin — Quarter Ended Jun 30, 2024
Revenue decreased compared to both the prior quarter and the same quarter a year ago, while cost of revenue increased. Gross profit fell more sharply, leading to a lower gross margin.
Gross margin takeaway
Quarter ended Jun 30, 2024 · FY2024 Q2
Revenue decreased compared to both the prior quarter and the same quarter a year ago, while cost of revenue increased. Gross profit fell more sharply, leading to a lower gross margin.
- The most observable driver is the increase in cost of revenue relative to revenue, which compressed gross profit and weakened gross margin.
- Compared to the prior quarter, revenue was lower and cost of revenue was higher, resulting in lower gross profit and gross margin. Compared to the same quarter a year ago, revenue was slightly lower while cost of revenue was higher, also leading to lower gross profit and gross margin.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
33.5%
Gross profit
$2.8B
Revenue
$8.3B
Cost of revenue
$5.5B
Quarter-over-quarter change
-17.6 pts
Year-over-year change
-5.9 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 |
|---|---|---|---|---|
| Sep 30, 2023 | $9.0B | $3.5B | $5.5B | 38.7% |
| Dec 31, 2023 | $9.3B | $3.5B | $5.8B | 37.3% |
| Mar 31, 2024 | $9.3B | $4.8B | $4.5B | 51.1% |
| Jun 30, 2024 | $8.3B | $2.8B | $5.5B | 33.5% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2024
-17.6 pts
Year-over-year change
Jun 30, 2023
-5.9 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The most observable driver is the increase in cost of revenue relative to revenue, which compressed gross profit and weakened gross margin.
Compared to the prior quarter, revenue was lower and cost of revenue was higher, resulting in lower gross profit and gross margin. Compared to the same quarter a year ago, revenue was slightly lower while cost of revenue was higher, also leading to lower gross profit and gross margin.
Monitor the trajectory of cost of revenue relative to revenue in upcoming periods.