PepsiCo reported better-than-expected earnings and revenue in the second quarter despite sluggish North American sales
PepsiCo reported better-than-expected earnings and revenue in the second quarter despite sluggish North American salesFILE - Plastic bottles of Pepsi are displayed at a grocery store in New York on Nov.
15, 2023. PepsiCo reported better-than-expected earnings and revenue in the second quarter despite sluggish North American sales. Sales of Frito-Lay and other snacks fell 1% in North America during the April-June period, PepsiCo said Thursday, while beverage sales were down 2% in the region. But sales rose in some other regions, including Latin America and Asia. Revenue rose less than 1% to $22.7 billion in the April-June period. That was higher than the $22.3 billion Wall Street forecast, according to analysts polled by FactSet. PepsiCo’s net income fell 59% to $1.3 billion. Adjusted for one-time items, PepsiCo earned $2.12 per share. That was also higher than the $2.03 analysts forecast.expectations in April, citing increased costs from tariffs and a pullback in consumer spending. The company reaffirmed that guidance Thursday.
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