The good news for PEP stock starts with its adjusted earnings per share (EPS) of $1.86 for the quarter. That’s better than the $1.74 per share that Wall Street was expecting for this period. It’s also an improvement over the $1.72 reported during the same time last year.
In addition to that, Pepsi reported a revenue of $20.23 billion. Yet again, that beats out the $19.51 billion in revenue that analysts were expecting. It’s also an increase over the $19.22 billion reported during the same period of the year prior.
To go along with this, Pepsi provided an update to its guidance for the full year of 2022. This has it expecting an adjusted EPS of $6.63 for the year. That’s still slightly below the $6.66 per share that Wall Street is expecting, but isn’t pulling PEP stock down today.
Ramon Laguarta, chairman and CEO of Pepsi, said the following in the earnings report:
Given our year-to-date performance, we now expect our full-year organic revenue to increase 10 percent (previously 8 percent) and we continue to expect core constant currency earnings per share to increase 8 percent.
PEP stock is up slightly as of Tuesday morning but is still down roughly 1% since the start of the year.
There’s more recent stock market news worth checking out below!
We’ve got all the hottest stock market news that traders need to know about today. That includes what has Peloton (NASDAQ:PTON) and GameStop (NYSE:GME) shares moving, as well as the biggest pre-market stock movers from this morning. You can read all about these matters at the following links!
More Stock Market News for Tuesday
- What Is Going on With Peloton (PTON) Stock Today?
- Can the GameStop NFT Marketplace Help GME Stock Turn Around?
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Tuesday
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.