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10/3, 12:02 PM (Source: TeleTrader)
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PepsiCo-0.70%

136.30
Chart for: Pepsico, Inc.

PepsiCo EPS declines 15% in Q3, but beats estimates

PepsiCo posted earnings per share of $1.49 in the third quarter, recording a drop of 15% year-on-year, but beating analysts estimates the company said on Thursday. Meanwhile, net income was reported at $2.1 billion, compared to $2.5 billion in the same quarter in 2018.

Meanwhile, the second-largest beverage seller in the United States said that its net revenue was at $17.1 billion in the third quarter this year, declining by 4% from the same quarter in the previous year.

Chairman and CEO Ramon Laguarta said in a statement: "We are making good progress against our strategic priorities and our businesses are performing well as we continue to make the necessary investments in our capabilities, brands, manufacturing and go-to-market capacity to propel our future growth. Given our performance year-to-date, we now expect to meet or exceed our full-year organic revenue growth target of 4%."

PepsiCo shares were 0.07% in the red in premarket trade on Wall Street after the release.

Breaking the News / VP