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PepsiCo beats Street 3Q forecasts

FILE - In this July 9, 2015, file photo, Pepsi bottles are on display at a supermarket in Haverhill, Mass. Pepsico reports quarterly financial results on Tuesday, Oct. 6, 2015. (AP Photo/Elise Amendola, File) FILE - In this July 9, 2015, file photo, Pepsi bottles are on display at a supermarket in Haverhill, Mass. Pepsico reports quarterly financial results on Tuesday, Oct. 6, 2015. (AP Photo/Elise Amendola, File)

By Associated Press October 6, 2015 1 min read

PURCHASE, N.Y. (AP) – PepsiCo Inc. (PEP) on Tuesday reported third-quarter net income of $533 million.

The Purchase, New York-based company said it had profit of 36 cents per share. Earnings, adjusted for asset impairment costs and non-recurring costs, were $1.35 per share.

The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.26 per share.

The food and beverage company posted revenue of $16.33 billion in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $16.19 billion.

PepsiCo shares have risen slightly more than 1 percent since the beginning of the year, while the Standard & Poor’s 500 index has decreased 3.5 percent. The stock has climbed 2.5 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