PepsiCo (NASDAQ:PEP) has raised its full-year forecast after its latest quarterly earnings and revenue topped analysts’ expectations.
Shares of the company fell less than 1% in pre-market trading Tuesday (October 5) on the news.
PepsiCo’s earnings per share came in at $1.79 U.S. versus $1.73 U.S. that had been expected by analysts surveyed by Refinitiv data. The company’s revenue in the third quarter amounted to $20.19 billion U.S. versus $19.39 billion U.S. expected.
Pepsi reported third-quarter net income of $2.22 billion U.S., or $1.60 U.S. per share, down from $2.29 billion U.S., or $1.65 U.S. per share, a year earlier. Excluding items, the food and beverage concern earned $1.79 U.S. per share, topping the $1.73 U.S. per share expected by analysts.
Net sales at PepsiCo rose 11.6% to $20.19 billion U.S., beating expectations of $19.39 billion U.S.
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