Pepsi’s stock jumps as higher advertising spending fuels sales growth and earnings beat

Earnings

A woman grabs a bottle of Diet Pepsi in Atlanta, Georgia.

Chris Rank | Bloomberg | Getty Images

PepsiCo on Thursday announced quarterly earnings and revenue that topped expectations.

Shares of the food and beverage giant jumped 3% 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: $1.56, adjusted, vs. $1.50 expected
  • Revenue: $17.19 billion vs. $16.93 billion expected

Pepsi reported fiscal third quarter net income of $2.1 billion, or $1.49 per share, down from $2.5 billion, or $1.75 per share, a year earlier.

Excluding items, Pepsi earned $1.56 per share, topping the $1.50 per share expected by analysts surveyed by Refinitiv.

Net sales rose 4.3% to $17.19 billion, topping expectations of $16.93 billion.

Articles You May Like

IRA rollovers often come with higher investment fees, Pew finds: Here’s how much money that costs retirement savers
China’s Xi arrives in Hong Kong in his first trip off the mainland since the onset of the pandemic
A winning $1 million Mega Millions ticket is about to expire: Here’s how much lottery money goes unclaimed
Debt collectors’ ‘pay to pay fees’ are ‘often illegal,’ consumer watchdog agency says
RH shares slide after company lowers its outlook for the year

Leave a Reply

Your email address will not be published.