Beverage and snack giant PepsiCo (PEP) has reported better-than-expected second quarter earnings and raised its full-year guidance.
The company, which makes consumer products such as the Pepsi soft drink, Lay’s potato chips, and Quaker oatmeal, said it earned $2.09 U.S. per share for the second quarter ended June 30.
That was better than consensus Wall Street forecasts for earnings of $1.96 U.S. a share, according to Refinitiv data.
Revenue in Q2 totaled $22.32 billion U.S. versus $21.73 billion U.S. that had been expected by analysts who cover the company. Revenue increased 10% year-over-year during the quarter.
Looking ahead, PepsiCo said it now expects its full-year revenues to grow a further 10%, compared with previous forecast of 8% growth.
The company also expects earnings per share of $7.47 U.S. for all of this year, up from an earlier forecast of $7.27 U.S.
PepsiCo’s stock has gained 8% over the last 12 months to trade at $183.17 U.S. per share.
