PepsiCo (NYSE:PEP) stock was up on Tuesday following the release of its earnings report for the second quarter of 2018.
During the second quarter of the year, PepsiCo reported earnings per share of $1.61. This is an increase over its earnings per share of $1.50 that was reported in the same period of the year prior. It was also good news for PEP stock by coming in above Wall Street’s earnings per share estimate of $1.52 for the quarter.
Net income reported by PepsiCo during the second quarter of 2018 came in at $1.82 billion. The food and beverage company’s net income from the second quarter of 2017 was $2.11 billion.
PepsiCo also reported operating profit of $3.03 billion for the second quarter of the year. This is better than its operating profit of $2.92 billion that was reported during the same time last year.
PepsiCo’s earnings report for the second quarter of 2018 also includes revenue of $16.09 billion. This is up from its revenue of $15.71 billion that was reported in the second quarter of the previous year. It also was a boon to PEP stock by beating out analysts revenue estimate of $16.04 billion for the period.
PepsiCo took time during its most recent earnings report to reaffirm its guidance for the full year of 2018. The company says that it is expecting earnings per share for the year to be $5.70. This would be better than its earnings per share of $5.23 for 2017. It would also have its 2018 earnings per share coming in above Wall Street’s estimate of $5.66 for the year.
PEP stock was up 3% as of Tuesday morning.
As of this writing, William White did not hold a position in any of the aforementioned securities.
