A customer holds a can of Pepsi beverage at a shopping mall on March 9, 2022 in Shaoxing, Zhejiang Province of China.
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PepsiCo on Tuesday raised its revenue outlook for the year as consumers snacked on more Sabra hummus and drank more Gatorade.
Shares of the company rose less than 1% in premarket trading.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:
- Earnings per share: $1.86 adjusted vs. $1.74 expected
- Revenue: $20.23 billion vs. $19.51 billion expected
Pepsi reported second-quarter net income attributable to the company of $1.43 billion, or $1.03 per share, down from $2.36 billion, or $1.70 per share, a year earlier.
Excluding items, the company earned $1.86 per share, topping the $1.74 per share expected by analysts surveyed by Refinitiv.
Net sales rose 5.2% to $20.23 billion, beating expectations of $19.51 billion.
Read the full earnings report here.
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