PepsiCo earnings beat estimates as international demand boosts sales

Bottles of Pepsi soda are seen on display at a Target store on February 09, 2024 in the Flatbush neighborhood of Brooklyn borough New York City.

Michael M. Santiago | Getty Images

PepsiCo on Tuesday reported quarterly earnings and revenue that beat analysts’ expectations, despite a recall of some Quaker Foods cereal and bars that dented volume.

Shares of the company were flat in premarket trading.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:

  • Earnings per share: $1.61 adjusted vs. $1.52 expected
  • Revenue: $18.25 billion vs. $18.07 billion expected

Pepsi reported first-quarter net income attributable to the company of $2.04 billion, or $1.48 per share, up from $1.93 billion, or $1.40 per share, a year earlier.

Excluding items, Pepsi earned $1.61 per share.

Net sales rose 2.3% to $18.25 billion.

Source: https://www.cnbc.com/2024/04/23/pepsico-pep-q1-2024-earnings.html

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