FILE - In this April 23, 2018, photo, Pepsi soft drink bottles are displayed at a store in Windham, N.H. PepsiCo Inc. reports earns on Tuesday, July 9, 2019. AP Photo/Charles Krupa, File)

PepsiCo continues to impress, tops 2Q forecasts

July 09, 2019 - 5:25 am

The Associated Press

PURCHASE, N.Y. (AP) — PepsiCo is reporting better-than-expected profit and revenue as the company continues its shift to healthier snacks and drinks under a new CEO.

The Purchase, New York, company on Tuesday posted second quarter earnings of $2.04 billion, or $1.44 per share. The per share earnings were $1.54 when adjusted for one-time items, or a nickel better than Wall Street had expected, according to a survey by Zacks Investment Research.

Revenue was $16.45 billion, also beating analyst forecasts for $16.39 billion.

PepsiCo expects full-year earnings to be $5.50 per share.

PepsiCo shares have climbed 20% since the beginning of the year, double that of rival Coca-Cola Co.

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Portions of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PEP at https://www.zacks.com/ap/PEP

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