When PepsiCo Inc. (NASDAQ: PEP) reported its second-quarter financial results before the markets opened on Tuesday, the company said that it had $1.61 in earnings per share (EPS) and $16.09 billion in revenue. The consensus estimates had called for $1.52 in EPS on revenue of $16.04 billion. In the same period of last year, Pepsi posted EPS of $1.50 and $15.71 billion in revenue.
Looking ahead to the full year, the company expects to see core EPS of $5.70 and organic revenue growth at least in line with the 2017 growth rate of 2.3%. The consensus estimates call for $5.66 in EPS and $65.03 billion in revenue for the full year.
The board chair and chief executive, Indra Nooyi, commented:
We are pleased with our results for the second quarter and we remain on track to achieve the financial targets we set out at the beginning of the year. The majority of our businesses performed very well, particularly our international divisions propelled by continued growth in developing and emerging markets, and our North America Beverages sector posted sequential net revenue and operating profit performance improvement.
Shares of Pepsi were last seen up about 4% at $112.10, with a consensus price target of $114.74 and a 52-week range of $95.94 to $122.51.