Home / Top News / Cyber attack will cut 3 percent from Mondelez’s second quarter revenue growth

Cyber attack will cut 3 percent from Mondelez’s second quarter revenue growth


An employee monitors foil-wrapped Cadbury Creme Eggs as they move along the production line at the Bournville Cadbury factory, operated by Mondelez International Inc., in Birmingham, U.K.

Simon Dawson | Bloomberg | Getty Images

An employee monitors foil-wrapped Cadbury Creme Eggs as they move along the production line at the Bournville Cadbury factory, operated by Mondelez International Inc., in Birmingham, U.K.

Mondelez said Thursday that a cyber attack will cut into its revenue growth for its second quarter.

The company said its preliminary estimate of the impact will reduce its revenue growth rate by 3 percent. Mondelez’s stock was down nearly 2 percent in after-hours trading following the announcement.

The company said it was hit on June 27, compromising its ability to ship and invoice during the last four days of its second quarter.

“There are a few markets where we have permanently lost some of that revenue due to holiday feature timing, but we expect we will be able to recognize the majority of these delayed shipments in our third quarter results,” the company said in a press release.

The food company said it is still assessing the full financial effect of the event.

This is a developing story. Check back for updates.

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