Dive Brief:

• Mondelez International, the snack-food company born of the breakup of Kraft, said revenue excluding one-time items rose 5.3%. Not including one-time items, the company said it earned 41 cents a share, a penny higher than analyst forecasts.
• The maker of Oreo cookies, Trident gum and Cadbury chocolates, trimmed it sales outlook for the rest of the year, citing disappointing cookie sales in China.
• Overall sales in China fell by double-digits as the economy there softened. Sales in other developing markets such as Russia and India rose. North American sales saw a slight gain.

Dive Insight:

We're not too worried yet about Mondelez' performance in China. In fact, we'd have been surprised if sales there had been higher. No doubt Mondelez will do what the old Kraft never did and learn to make versions of its food that suit Asian tastes. If Kit Kat can learn to make green tea candy, the Oreos can learn to make lychee filling.