Earnings

PepsiCo earnings top estimates on strong snack and beverage sales, company backs 2019 forecast

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PepsiCo on Tuesday reported quarterly earnings and revenue that beat analysts’ expectations.

Shares of the company rose less than 1% in premarket trading.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

  • Earnings per share: $1.54, adjusted, vs. $1.50 expected
  • Revenue: $16.449 billion vs. $16.426 billion expected

The soda giant reported fiscal second-quarter net income of $2.04 billion, or $1.44 per share, up from $1.82 billion, or $1.28 per share, a year earlier.

Excluding items, Pepsi earned $1.54 per share, topping the $1.50 per share expected by analysts surveyed by Refinitiv.

Net sales rose 2.2% to $16.44 billion, beating expectations of $16.43 billion.

Second-quarter organic revenue was up 4.5%, topping the 4.4% growth expected.

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