PURCHASE, N.Y. (AP) — PURCHASE, N.Y. (AP) — PepsiCo Inc. (PEP) on Tuesday reported fourth-quarter profit of $2.54 billion.
On a per-share basis, the Purchase, New York-based company said it had profit of $1.85. Earnings, adjusted for one-time gains and costs, came to $2.26 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.24 per share.
The food and beverage company posted revenue of $29.34 billion in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $29 billion.
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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
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