PURCHASE, N.Y. (AP) — PURCHASE, N.Y. (AP) — PepsiCo Inc. (PEP) on Tuesday reported fourth-quarter earnings of $1.52 billion.
On a per-share basis, the Purchase, New York-based company said it had net income of $1.11. Earnings, adjusted for asset impairment costs and non-recurring costs, were $1.96 per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.95 per share.
The food and beverage company posted revenue of $27.78 billion in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $27.9 billion.
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