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

EVgo shares are surging after fourth-quarter results trounce Wall Street estimates
On ‘Ivy Day,’ college hopefuls hear from Harvard, Princeton — but here’s the school more students want to attend
Amid inflation, nearly half of parents financially support their adult children, but ‘it has to go both ways,’ economist warns
China’s banking troubles are not the same as Silicon Valley Bank, economist says
JetBlue is preparing to trim New York flights in response to FAA staffing shortage, CEO says

Leave a Reply

Your email address will not be published. Required fields are marked *