PepsiCo tops Street 3Q forecasts
PURCHASE, N.Y. (AP) — PepsiCo Inc. (PEP) on Thursday reported third-quarter profit of $2.01 billion.
On a per-share basis, the Purchase, New York-based company said it had profit of $1.32. Earnings, adjusted for restructuring costs and non-recurring costs, came to $1.36 per share.
The results topped Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.29 per share.
The food and beverage company posted revenue of $17.22 billion in the period, which also beat Street forecasts. Analysts expected $17.1 billion, according to Zacks.
PepsiCo shares have increased 13 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 6.5 percent. The stock has climbed 19 percent in the last 12 months.
This story was generated automatically by Automated Insights using data from Zacks Investment Research. Full Zacks research report: PEP