Pepsi products at a convenience store in Crockett, California, USA, on Friday, June 16, 2023.
David Pablo Morris | Mayor Bloomberg | fake images
PepsiCo reported quarterly earnings and revenue on Thursday that beat analysts’ expectations and raised its outlook for the full year.
Shares of the company rose more than 2% in premarket trading.
Here’s what the company reported compared to what Wall Street expected, based on a survey of analysts conducted by Refinitiv:
- Earnings Per Share: Adjusted $2.09 vs. $1.96 expected
- Revenue: $22.32 billion vs. $21.73 billion expected
Pepsi reported second-quarter net income attributable to the company of $2.75 billion, or $1.99 per share, compared with $1.43 billion, or $1.03 per share, a year earlier.
Excluding items, the beverage giant earned $2.09 per share.
net sales rose 10.4% to $22.32 billion.