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Mondelez CEO Irene Rosenfeld says she's pleased with earnings performance

Mondelez Chairman and CEO Irene Rosenfeld told CNBC on Wednesday she was pleased with her company's earnings performance despite a tough market environment.

"We had another quarter of very solid execution despite the fact that it continues to be a pretty challenging environment out there," Rosenfeld said on CNBC's "Squawk Alley."

On Wednesday, Mondelez posted a third-quarter profit that beat analysts' estimates, helped in part by cost cuts. The Oreo maker raised its profit forecast for the year. Share of the company rose more than 3 percent in early afternoon trade Wednesday.

The snack giant is in the middle of a program to cut expenses. Its program calls for opening more efficient manufacturing plants and using "zero-based budgeting," a method in which all expenses must be justified for each new period.

"We're focused on controlling what we can," Rosenfeld told CNBC. "Our cost structure, our investments, our innovation pipeline, and that's what's allowing us to continue to deliver very solid earnings growth even in these challenging times."

—Reuters contributed to this report.