PURCHASE, N.Y. (AP) — PURCHASE, N.Y. (AP) — PepsiCo Inc. (PEP) on Thursday reported first-quarter net income of $1.83 billion.
The Purchase, New York-based company said it had profit of $1.33 per share. Earnings, adjusted for one-time gains and costs, came to $1.48 per share.
The results missed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.50 per share.
The food and beverage company posted revenue of $17.92 billion in the period, beating Street forecasts. Six analysts surveyed by Zacks expected $17.75 billion.
PepsiCo expects full-year earnings to be $8.16 per share.
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