Pepsi (NASDAQ:PEP) stock is rising Tuesday following the soda and snack company’s release of its earnings report for the second quarter of 2022.
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!
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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.
