PepsiCo’s earnings topped Wall Street’s estimates, but the company’s revenue missed expectations, as drink and snack demand fell in North America.PepsiCo’s earnings topped Wall Street’s estimates, but the company’s revenue missed expectations, as drink and snack demand fell in North America.
Shares of the company fell less than 1% in premarket trading.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:
- Earnings per share: $1.96 adjusted vs. $1.94 expected
- Revenue: $27.78 billion vs. $27.89 billion expected
Pepsi reported fourth-quarter net income attributable to the company of $1.52 billion, or $1.11 per share, up from $1.3 billion, or 94 cents per share, a year earlier.
Excluding restructuring, impairment charges and other items, the food and beverage company earned $1.96 per share.
Net sales dropped 0.2% to $27.78 billion.
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