PURCHASE, N.Y. (AP) — PURCHASE, N.Y. (AP) — PepsiCo Inc. (PEP) on Thursday reported third-quarter earnings of $2.6 billion.
On a per-share basis, the Purchase, New York-based company said it had profit of $1.90. Earnings, adjusted for costs related to mergers and acquisitions and pretax expenses, came to $2.29 per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.27 per share.
The food and beverage company posted revenue of $23.94 billion in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $23.88 billion.
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