PepsiCo, Inc. (NYSE:PEP) posted its fiscal second-quarter earnings report Tuesday, beating expectations.
The soft beverage provider’s earnings came in at $1.50 per share, excluding certain items. The figure was 10 cents ahead of the $1.40 per share that analysts were expecting, according to a poll conducted by Thomson Reuters.
Revenue was a strong point for PepsiCo as well as the company raked in $15.71 billion, a 2.1% surge year-over-year. Wall Street’s consensus estimate was lower at $15.60 billion.
Strong points in the quarter for the company include the decision to increase the prices of its beverages and snack foods in North America, where revenue came in at $5.24 billion, a 2% year-over-year increase. Volume sales were flat, but net pricing rose 1% compared to the year-ago period.
PepsiCo’s Frito Lay business improved, surging 3% as it experienced a 1% rise in volume and a 3% increase in net pricing. Net income attributable to PepsiCo was better at $2.11 billion, or $1.46 per share, from the year-ago figure of $2.01 billion, or $1.38 per share.
The company has managed to top revenue expectations in its last three quarters, as well as 12 of its last 14 quarters.
However, a weak point for PepsiCo remains its soft volume, which has caused the company to raise prices in order to offset this decline, but now the company must seek new ways of boosting sales in order to continue improving its earnings and revenue figures.
PEP stock fell 0.6% Tuesday.