Mondelez International (NASDAQ:MDLZ) will report earnings after the market closes next 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 $0.40 per share this quarter. The company reported EPS of $0.37 per share for the second quarter. At that time, Mondelez reaffirmed its full-year 2013 adjusted EPS guidance of $1.55 to $1.60. 

Organic growth
Mondelez's revenues increased 3.8% in Q2 2013, driven by the company's two largest categories, biscuits and chocolate, which were up 8% and 6%, respectively. The company's "power brands" -- including belVita biscuits and Milka chocolates -- have grown more than double the company rate during the first half of 2013. The maker of Chips Ahoy, Oreo, and Cadbury reported nearly $8.6 billion in sales last quarter and $35 billion for the full-year 2012. The chocolatier expects its full-year 2013 organic net revenue growth to come in at the low end of its 5% to 7% target.

In the October 2012 breakup of Kraft Foods, Kraft Foods Group (UNKNOWN:KRFT.DL) spun off from the parent company, which changed its name to Mondelez International. Mondelez retained the high-growth global snack-food portfolio, while Kraft received the slower-growing North American grocery business. Yet since the corporate divorce, Mondelez has been the more sluggish performer. Its stock returned 23%, underperforming both Kraft's impressive 31% return and the S&P 500's 25%. 

Developing markets performance
Mondelez is assertively pursuing growth in untapped emerging markets, where the company currently obtains more than 40% of sales. Last quarter, it posted 9.5% revenue growth in emerging markets. Revenues derived from these markets have accelerated during the past several quarters and are nearing Mondelez's long-term target of double-digit growth. Revenues grew most notably for BRIC markets, which were up nearly 13% during the second quarter, with Russia and Brazil posting especially strong growth. 

Foolish takeaway
When Mondelez reports earnings on Wednesday, I'll be looking to see what type of organic growth it achieved in the third quarter and whether it's on track to meet its yearly revenue target. I'll be especially interested in whether and how Mondelez grew revenues in crucial emerging markets.