Mondelez International (NASDAQ:MDLZ) 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.

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.