Mondelez International (NASDAQ:MDLZ) will report earnings on Wednesday. Here's what you need to watch for in the company's results.

Earnings expectations
The first issue that needs to be addressed is whether the global snack-food giant met Wall Street's expectations. Analysts tack profits for Mondelez at $0.34 per share this quarter. The company reported earnings per share of $0.34 for the first quarter of last year. The maker of Cadbury, Chips Ahoy!, and Oreo expects its full-year 2014 earnings in the range of $1.73 to $1.78 a share. 

Organic growth
Mondelez's revenues increased 2.5% in Q4 2013, down from 5.3% in Q3 2013 and 3.8% in each of the first two quarters of the year. Fourth-quarter sales increases were driven by the company's "power brands," which include Tuc, Club Social, belVita, and Barni biscuits, Cadbury Dairy Milk, Milka, Lacta chocolate, and Tassimo coffee. Power brands grew faster than the company average, up 4.1% during the fourth quarter. Mondelez reported $8.7 billion in sales during the first quarter of last year and more than $35 billion for 2013. The chocolatier expects its full-year 2014 organic net revenues to grow 4%. 

Emerging markets performance
While Mondelez currently obtains over 40% of sales from developing markets, it's crucial to the long-term success of the company for this percentage to grow. Revenues from emerging markets were up 8.8% for the full-year 2013, led by a 10% gain in BRIC markets. For the fourth quarter, the Illinois-based company posted bland 5.9% revenue growth from emerging markets. India, Russia, and Brazil displayed strong performance, while China declined considerably due to weak biscuit sales. 

Up until the fourth quarter, revenues derived from emerging markets had steadily increased. Mondelez posted 9.3% revenue growth in Q1 2013, a stronger 9.5% in Q2, and an even more impressive 10.7% in Q3. The company was nearing its long-term target of double-digit growth in these markets, but the fourth quarter was a major setback.

Foolish final thoughts
When Mondelez reports earnings on Wednesday, I'll be watching to see what type of organic growth the company achieved in the first quarter. I'll also be looking for if and how Mondelez grew revenues in crucial emerging markets, particularly BRIC nations.

Nicole Seghetti owns shares of Mondelez International. Follow her on Twitter @NicoleSeghetti. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.