PepsiCo, Inc. (PEP) Reports Q1 Earnings Beat

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PepsiCo, Inc. (NYSE:PEP) released positive earnings in its report for the first quarter of 2017.

PepsiCo, Inc. (PEP) Reports Q1 Earnings BeatPepsiCo, Inc. reported earnings per share of 94 cents during the first quarter of the year. This is an increase over its earnings per share of 89 cents reported during the same time last year. It also beat out Wall Street’s earnings per share estimate of 91 cents for the quarter.

Revenue reported by PepsiCo, Inc. during the first quarter of 2017 was $12.05 billion. This is up from its revenue of $11.86 billion that was reported in the first quarter of 2016. It also came in above analysts’ revenue estimate of $11.98 billion for the first quarter of the year.

During the first quarter of 2017, PepsiCo, Inc. reported operating profit of $1.93 billion. This is an increase over its operating profit of $1.62 billion reported during the same period of the year prior.

Net income reported by PepsiCo, Inc. during the first quarter of the year was $1.33 billion. The food and beverage company reported a net income of $945 million in the same quarter of the previous year.

PepsiCo, Inc. also reaffirmed its earnings per share outlook for the full year of 2017 in its most recent earnings report. PEP is expecting to report earnings per share of $5.09 in 2017. This is below Wall Street’s earnings per share estimate for the year, which is sitting at $5.13.

PepsiCo, Inc. says that it expects organic revenue growth of at least 3% in 2017. However, it is also expecting foreign exchange translation to have a negative impact of 2% on its revenue growth. Plus, it says there will be a negative impact of 1% on revenue growth from its 53rd week in 2016.

PEP stock was down slightly as of Wednesday morning.


Article printed from InvestorPlace Media, https://investorplace.com/2017/04/pepsico-inc-pep/.

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