PepsiCo Posts $1.9B in Q1 Earnings

The results bested Wall Street forecasts.

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PURCHASE, N.Y. (AP) β€” 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.

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