PURCHASE, N.Y. (AP) – PepsiCo Inc. (PEP) on Wednesday reported fourth-quarter profit of $1.31 billion.
The Purchase, New York-based company said it had profit of 87 cents per share. Earnings, adjusted for pretax expenses and restructuring costs, came to $1.12 per share.
The results surpassed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.08 per share.
The food and beverage company posted revenue of $19.95 billion in the period, also beating Street forecasts. Analysts expected $19.78 billion, according to Zacks.
PepsiCo shares have risen almost 4 percent since the beginning of the year, while the Standard & Poor’s 500 index has stayed nearly flat. The stock has climbed 22 percent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PEP at http://www.zacks.com/ap/PEP
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Keywords: PepsiCo, Earnings Report, Priority Earnings