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PepsiCo Q2 profit, revenue beat estimates
[LONDON] PepsiCo Inc reported better-than-expected quarterly profit and revenue due to strong demand for its snacks and beverages in North America.
Net income attributable to the company rose marginally to US$1.98 billion, or US$1.33 per share, in the second quarter ended June 13, from US$1.98 billion, or US$1.29 per share, a year earlier. Excluding items, the company earned US$1.32 per share.
Net revenue fell 5.7 per cent to US$15.92 billion as a stronger dollar continued to weigh on overseas sales.
Analysts on an average had expected earnings of US$1.24 per share and revenue of US$15.80 billion, according to Thomson Reuters I/B/E/S.