PURCHASE, N.Y. (AP) — PURCHASE, N.Y. (AP) — PepsiCo Inc. (PEP) on Tuesday reported first-quarter earnings of $2.04 billion.
The Purchase, New York-based company said it had profit of $1.48 per share. Earnings, adjusted for non-recurring costs and restructuring costs, came to $1.61 per share.
The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.52 per share.
The food and beverage company posted revenue of $18.25 billion in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $18.14 billion.
PepsiCo expects full-year earnings to be $8.15 per share.
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