Mondelez International (MDLZ.US), which produces snacks such as Cadbury, Ritz, and Oreo biscuits, announced its third-quarter performance. Quarterly net profit fell by 13% year-on-year to $0.853 billion, diluted earnings per quarter were 63 cents, adjusted to 99 cents, higher than the market expectation of 85 cents, and quarterly net income rose by 2% year-on-year to $9.204 billion, exceeding the market expectation of $9.11 billion.

The company's quarterly adjusted gross margin increased by 2.3 percentage points year-on-year to 40.5%, benefiting from product price increases and production cost reduction driven by productivity improvements, but partially offset by rising raw material and transportation costs.

The company also announced the signing of an agreement on September 20th to acquire a controlling stake in China's cake and pastry producer, Evirth, depending on approval progress, with the transaction expected to be completed in the fourth quarter of this year.