PURCHASE, N.Y. (AP) – PepsiCo Inc. (PEP) on Thursday reported second-quarter profit of $2.01 billion.
The Purchase, New York-based company said it had profit of $1.38 per share. Earnings, adjusted for non-recurring gains, were $1.35 per share.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.28 per share.
The food and beverage company posted revenue of $15.4 billion in the period, which fell short of Street forecasts. Six analysts surveyed by Zacks expected $15.41 billion.
PepsiCo expects full-year earnings to be $4.71 per share.
PepsiCo shares have climbed 6 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen nearly 3 percent. The stock has increased 12 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