PepsiCo Posts Better-than-Expected Earnings

The company's second-quarter profit topped $1.4 billion.

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PURCHASE, N.Y. — PepsiCo Inc. on Tuesday reported second-quarter profit of $1.43 billion.

On a per-share basis, the Purchase, New York-based company said it had profit of $1.03. Earnings, adjusted for non-recurring costs and restructuring costs, came to $1.86 per share.

The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.73 per share.

The food and beverage company posted revenue of $20.23 billion in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $19.77 billion.

PepsiCo expects full-year earnings to be $6.63 per share.

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