Get the app today! App Store Play Store

PepsiCo Quarterly Revenue Beats Estimates

Published on Jul 10 2019 9:40 AM in A-Brands tagged: Trending Posts / PepsiCo / Lays Chips

PepsiCo Quarterly Revenue Beats Estimates

PepsiCo Inc beat analysts' estimates for quarterly revenue and profit on Tuesday, as the company benefited from demand for its sodas and Lays chips, as well as its sparkling waters.

Revenue in its snacking division, Frito-Lay North America, rose 4.5%, while it increased 2.5% in its beverage unit.

PepsiCo launched berry, lime and mango flavored sodas in 12-ounce cans earlier this year and introduced Bubly sparkling water in fruity flavors as well as healthier chips such as Bare's apple chips and Off the Eaten Path's veggie crisps.

Organic Revenue Increase

Organic revenue, which excludes the effect of currency fluctuations and acquisitions, increased 4.5%.

Three analysts polled by Refinitv IBES had expected a 4.87% growth in organic revenue.

Net Revenue Increase

Net revenue rose 2.2% to $16.45 billion in the second quarter ended 15 June from a year earlier.

Net income attributable to the company rose to $2.04 billion, or $1.44 per share, from $1.82 billion, or $1.28 per share, a year earlier.

Excluding one-time items, the company earned $1.54 per share.

Analysts on average had expected profit of $1.50 per share and revenue of $16.43 billion.

News by Reuters, edited by Donna Ahern Checkout. Click subscribe to sign up for the Checkout print edition.

Share on Facebook Share on Twitter Share on LinkedIn Share via Email