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PepsiCo beats earnings forecasts
PURCHASE, N.Y. — PepsiCo Inc. (PEP) on Tuesday reported second-quarter earnings of $2.11 billion.
On a per-share basis, the Purchase, New York-based company said it had net income of $1.46. Earnings, adjusted for restructuring costs and non-recurring costs, were $1.50 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.39 per share.
The food and beverage company posted revenue of $15.71 billion in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $15.59 billion.
PepsiCo expects full-year earnings to be $5.13 per share.
PepsiCo shares have risen 9 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed slightly more than 8 percent. The stock has increased 5.5 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PEP at https://www.zacks.com/ap/PEP