4/17, 12:10 PM (Source: TeleTrader)
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Chart for: Pepsico, Inc.

PepsiCo tops estimates with EPS of $1 in Q1

PepsiCo Inc. said on Wednesday that its GAAP earnings per share (EPS) for the first quarter of 2019 increased 6% to $1 compared to the same period a year ago, thus topping market estimates. Meanwhile, net revenue amounted to $12.9 billion, rising 2.6% on an annual basis.

The American multinational food, snack, and beverage corporation added its net income in the three-month period stood at $1.4 billion, marking a 5% rise compared to the same quarter last year. Meanwhile, operating profit rose 11% year on year to $2 billion.

"We are pleased with our results for the first quarter," CEO Ramon Laguarta stated. "While adverse foreign exchange translation negatively impacted our reported net revenue performance, our underlying organic revenue growth accelerated to more than 5% in the quarter. Frito-Lay North America and each of our international divisions delivered particularly strong operating performance, and PepsiCo Beverages North America generated sequential quarterly net revenue acceleration," he added.

PepsiCo shares jumped 1.9% in pre-market trading on better-than-expected results.

Breaking the News / NP