Mondelez International, Inc. stock research
FY2025 Q2
Mondelez International (MDLZ) Gross Margin — Quarter Ended Jun 30, 2025
Revenue decreased from the prior quarter but increased from the same quarter last year. Gross profit increased from the prior quarter and was slightly above the year-ago level, while cost of revenue declined from the prior quarter yet rose from the year-ago quarter, resulting in a gross margin that improved sequentially but weakened compared to the prior year.
Gross margin takeaway
Quarter ended Jun 30, 2025 · FY2025 Q2
Revenue decreased from the prior quarter but increased from the same quarter last year. Gross profit increased from the prior quarter and was slightly above the year-ago level, while cost of revenue declined from the prior quarter yet rose from the year-ago quarter, resulting in a gross margin that improved sequentially but weakened compared to the prior year.
- The most significant observable driver of the current quarter's gross margin was the relationship between revenue and cost of revenue. Compared to the prior quarter, cost of revenue declined by a proportionally larger amount than revenue, leading to an improved gross margin.
- Sequentially, gross margin rose from the preceding quarter. Year-over-year, gross margin declined from the same quarter one year earlier.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
32.7%
Gross profit
$2.9B
Revenue
$9.0B
Cost of revenue
$6.0B
Quarter-over-quarter change
+6.6 pts
Year-over-year change
-0.8 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, 2024 | $9.2B | $3.0B | $6.2B | 32.6% |
| Dec 31, 2024 | $9.6B | $3.7B | $5.9B | 38.6% |
| Mar 31, 2025 | $9.3B | $2.4B | $6.9B | 26.1% |
| Jun 30, 2025 | $9.0B | $2.9B | $6.0B | 32.7% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2025
+6.6 pts
Year-over-year change
Jun 30, 2024
-0.8 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The most significant observable driver of the current quarter's gross margin was the relationship between revenue and cost of revenue. Compared to the prior quarter, cost of revenue declined by a proportionally larger amount than revenue, leading to an improved gross margin.
Sequentially, gross margin rose from the preceding quarter. Year-over-year, gross margin declined from the same quarter one year earlier.
Monitor the trajectory of cost of revenue relative to revenue, as recent changes in their proportion have materially influenced gross margin.