Serve a slice of this moist chocolate bread with cream cheese and a mug of hot cocoa for a morning snack.
Heat oven to 350°F. Coat nonstick loaf pan (11-1/2 x 5-1/2 x 3 inches) or 2 loaf pans (8-1/2 x 4-1/2 x 2-3/8 inches) with nonstick vegetable cooking spray.
Beat butter and sugar on medium speed in large bowl until smooth and fluffy, 2 minutes. Add eggs; beat 1 minute. Beat in applesauce (mixture will look curdled).
Mix flour, cocoa, baking soda, salt, cinnamon and nutmeg in large bowl. Make well in center. Add applesauce mixture, chocolate chips and peanuts to well; stir into flour mixture until just combined and flour mixture is evenly moistened. Spoon mixture into prepared pan(s).
Bake in 350°F oven 60 to 65 minutes, until toothpick tests clean. Let cool in pan(s) 15 minutes. Turn out onto rack; let cool completely.
Dust with sugar, cocoa.