PepsiCo (NASDAQ:PEP) announced quarterly earnings were higher than expected, even though revenue was lower. The company earned $1.9 billion, or $1.21 per share, down from $2 billion, or $1.25 per share, in the same period last year. Excluding items, profit was $1.20 per share, beating estimates of $1.16 per share. Revenue dropped by 5 percent to $16.65 billion, below estimates of $16.9 billion.
Shares are slightly lower in early trading.
Just yesterday, rival Coca-Cola (NYSE:KO) announced weaker than expected revenue, due to declines in the Pacific region and Europe.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.