PURCHASE, N.Y. (AP) — PURCHASE, N.Y. (AP) — PepsiCo Inc. (PEP) on Thursday reported second-quarter earnings of $3.08 billion.
On a per-share basis, the Purchase, New York-based company said it had profit of $2.23. Earnings, adjusted for restructuring costs and non-recurring costs, came to $2.28 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.15 per share.
The food and beverage company posted revenue of $22.5 billion in the period, which missed Street forecasts. Six analysts surveyed by Zacks expected $22.56 billion.
PepsiCo expects full-year earnings to be $8.15 per share.
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