By Annie Gasparro

Mondelez International Inc. said sales of its snacks and candy are improving in emerging markets after months of lockdowns and economic turmoil from the coronavirus pandemic.

The maker of Oreo cookies, Trident gum and Triscuit crackers was hit hard this year as Covid-19 ravaged Latin American countries. In Mexico, for instance, Mondelez has a large gum and candy business that has been hurt by people going out less often and making fewer trips to convenience stores.

In recent months, Mondelez's sales in some developing countries, such as China, India and Brazil, have improved, the company said Monday.

Mondelez's global revenue rose about 5% in its third quarter to $6.6 billion, topping analysts' expectations. Comparable sales rose 5.3% in emerging markets and 3.8% in developed countries. In North America, that metric, which excludes the impact of acquisitions and currency fluctuations, rose 6.3%.

Shares were flat in after-hours trading at $54.34.

Like other U.S. food companies, Mondelez has invested more in its brands during a time of unprecedented demand for groceries in hopes of convincing consumers to stick with its products for the long haul. Mondelez has also cut the varieties of snacks and candy that it makes to simplify its supply chain and save money.

In the latest quarter, Mondelez's adjusted operating profit margin rose 0.7 percentage points to 17.5% despite higher costs related to Covid-19.

The company reported net income for the quarter of $1.12 billion, a 22% jump from a year earlier. On an adjusted basis, its earnings of 62 cents a share came in a penny ahead of analysts' estimate, according to FactSet.

Write to Annie Gasparro at annie.gasparro@wsj.com

(END) Dow Jones Newswires

11-02-20 1754ET