The consumer packaged goods giant notches its 19th EPS beat in a row—Yahoo Finance's Jared Blikre goes in depth.

Video Transcript

ADAM SHAPIRO: The Mondelez is also out, and Jared's over at the New York Stock Exchange. What are they showing us?

JARED BLIKRE: That's right, the stock's up just fractually in after hours trading, but this is a 19th beat on EPS in a row. And that number coming in at $0.71 for the third quarter, beating estimates by a penny. Kind of reminiscent of GE during the [INAUDIBLE], right? Net revenue coming in at $7.18 billion. Estimate was for 7.06 billion. Small beat right there, but here's where the numbers get a lot better. Key metric, organic revenue up 5 and 1/2% in the quarter. The estimate was for 3.8%.

And a big part of that boost there past Wall Street estimates coming from Latin America. Organic revenue was up 25.9%. That is a huge number. The estimate was for 10 percentage points lower thereabouts. In the Asia, Middle East, and Africa organic revenue was up 5.7%. Estimate was for 4.13%. Finally, North America up 0.3%. Estimate was for 2.55%. So a miss there in North America, but really beating the numbers elsewhere in the world.

Finally, adjusted operating margin came in at 17.2% for the quarter. Now as to their full year '21 outlook, their adjusted EPS growth they are seeing in high single digits for free cash flow. They should be up over 300-- or $3 billion. And finally they are saying that their strategy and long-term algorithm remain unchanged. Adam.