PURCHASE, N.Y. (AP) — PepsiCo Inc. on Tuesday reported first-quarter earnings of $1.93 billion.
On a per-share basis, the New York-based company said it had profit of $1.40. Earnings, adjusted for one-time gains and costs, were $1.50 per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.37 per share.
The food and beverage company posted revenue of $17.85 billion in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $17.2 billion.
PepsiCo expects full-year earnings to be $7.27 per share.