PepsiCo, Inc. PEP reported better-than-expected results for its second quarter.
The company reported second-quarter earnings of $1.54 per share, which beat the analyst consensus estimate of $1.50. This is a 4.35% decrease over earnings of $1.61 per share from the same period.
The company reported sales of $16.45 billion, which beat the analyst consensus estimate of $16.42 billion. “We are pleased with our results for the second quarter,” said Chairman and CEO Ramon Laguarta. “While adverse foreign exchange translation negatively impacted our reported net revenue performance, our organic revenue growth was 4.5% in the quarter.”
Pepsi shares were trading up 1% at $133.92 in Tuesday’s pre-market session. The stock has a 52-week range between $135.24 and $104.53.
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