Mondelez International (MDLZ -0.71%) reported earnings before Wednesday's opening bell. Here's what you need to know about the company's latest results.

Source: Wikimedia Commons, Steven Depolo.

Sweet outlook for 2014 gets off to a savory start
Mondelez reported earnings of $0.39 per share for the first quarter, which was above Wall Street's projection of $0.34 per share and up 17% from the year-ago period. The Oreo maker is targeting adjusted full-year 2014 earnings in the range of $1.73 to $1.78 a share. Its stock was up more than 7% in early trading, mainly due to today's announcement that it and D.E. Master Blenders 1753 will combine their coffee businesses as Mondelez concentrates on its snack-foods side and cost-cutting. The deal will create the world's largest pure-play coffee company.

"Power brands" help organic growth
Mondelez posted an organic net revenue increase of 2.8% in the first quarter, up from an increase of 2.5% in the fourth quarter of 2013 but down from increases of 5.3% in the third quarter and 3.8% in each of last year's first two quarters. The Illinois-based company anticipates its full-year 2014 organic net revenue growth to come in at 4%.

Mondelez's important "power brands," which account for nearly 60% of company revenue, include Oreo and Chips Ahoy! cookies, Wheat Thins crackers, belVita and Barni biscuits, Cadbury chocolates, Trident gum, and Tassimo coffee. Power brands grew 4.8% in first-quarter 2014 after rising 6.5% for the full-year 2013.

Emerging markets remain primary focus
While Mondelez derives 40% of sales from developing markets, it is crucial to the long-term success of the company for this percentage to grow. For the first quarter, the company posted 6.7% revenue growth from emerging markets, led by solid performance in Brazil, Russia, Turkey, and Egypt. That's down substantially from the 9.3% emerging-market revenue growth for the year-ago quarter. Yet the quarter reversed the trend in declining revenue growth from emerging markets. Mondelez posted an unsavory 5.9% emerging markets revenue growth in the fourth quarter of 2013. The snack-food maker has some work to do in order to achieve its long-term target of double-digit growth in these key areas, but this most recent quarter showed promise.

Foolish takeaway
As Mondelez sheds its coffee business and focuses more on its snack-foods business and cost reductions, the company boasts plenty of attractive long-term growth opportunities. Mondelez still holds a great deal of promise for the patient investor.