PepsiCo beats earnings estimates, raises full-year outlook

PepsiCo beats earnings estimates, raises full-year outlook


Pepsi products at a convenience store in Crockett, California, US, on Friday, June 16, 2023.

David Paul Morris | Bloomberg | Getty Images

PepsiCo on Thursday reported quarterly earnings and revenue that topped analysts’ expectations and raised its full-year outlook.

Shares of the company rose more than 2% 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: $2.09 adjusted vs. $1.96 expected
  • Revenue: $22.32 billion vs. $21.73 billion expected

Pepsi reported second-quarter net income attributable to the company of $2.75 billion, or $1.99 per share, up from $1.43 billion, or $1.03 per share, a year earlier.

Excluding items, the beverage giant earned $2.09 per share.

Net sales rose 10.4% to $22.32 billion.



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