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.

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This story was generated automatically by Automated Insights using data from Zacks Investment Research. Full Zacks research report: PEP

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Keywords:PepsiCo,Earnings Report