PepsiCo raises revenue outlook after highest sales and profit expectations – Henry’s Club

A customer holds a can of Pepsi drinks at a shopping mall in Shaoxing, China’s Zhejiang province on March 9, 2022.

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PepsiCo Tuesday raised its revenue outlook for the year as consumers snacked on more Sabra hummus and drank more Gatorade.

The company’s shares rose less than 1% in premarket trading.

Here’s what the company reported compared to Wall Street’s expectation, based on a survey of analysts by Refinitiv:

  • Earnings per share: $1.86 adjusted versus $1.74 expected
  • Revenue: $20.23 billion versus $19.51 billion expected

Pepsi reported second-quarter net income of $1.43 billion, or $1.03 per share, down from $2.36 billion, or $1.70 per share, in the company’s second quarter a year ago.

Excluding items expected by analysts surveyed by Refinitiv, the company earned $1.86 per share, on top of $1.74 per share.

gross sales It rose 5.2% to $20.23 billion, beating expectations of $19.51 billion.

Read the full earnings report here.