PepsiCo's second quarter revenue fell below expectations.
Source: Dairynews.today
On July 11th, PepsiCo Inc. reported a second-quarter profit of $3.03 billion ($2.23 per share) compared to $2.748 billion ($1.99 per share) a year earlier. The operating profit was $2.23 per share.
Revenue for the reporting period increased to $22.501 billion from $22.322 billion. Earnings expectations were at $2.16 per share with revenue projected at $22.592 billion.
The company has exceeded profit expectations for at least 22 consecutive quarters, while revenue has only fallen below expectations for the second time in the same period.
Revenue from Frito-Lay North America decreased by 0.5%, and Quaker Foods by 18%, despite a 0.8% increase in beverage sales.
PepsiCo revised its forecast for organic revenue growth from "at least" 4% to "about" 4%. The forecast for growth in core earnings per share in constant currency remains at "at least" 8%.
The company has exceeded profit expectations for at least 22 consecutive quarters, while revenue has only fallen below expectations for the second time in the same period.
Revenue from Frito-Lay North America decreased by 0.5%, and Quaker Foods by 18%, despite a 0.8% increase in beverage sales.
PepsiCo revised its forecast for organic revenue growth from "at least" 4% to "about" 4%. The forecast for growth in core earnings per share in constant currency remains at "at least" 8%.
