PepsiCo earnings for the first quarter of the year have PEP stock heading higher on Wednesday.
PepsiCo (NASDAQ:PEP) starts off its earnings report for the first quarter of 2019 with earnings per share of 97 cents. This is up from the company’s earnings per share of 96 cents from the first quarter of 2018. It was also good news for PEP stock by beating out Wall Street’s earnings per share estimate of 92 cents for the period.
Net income reported in the PepsiCo earnings release for the first quarter of the year comes in at $1.42 billion. This is an increase over the company’s net income of $1.35 billion reported in the same period of the year prior.
The PepsiCo earnings report for the first quarter of 2019 also has operating income coming in at $2.01 billion. The maker of snacks and drinks reported operating income of $1.81 billion for the first quarter of the previous year.
PepsiCo earnings for the first quarter of the year also see it reporting revenue of $12.88 billion. This is better than the company’s revenue of $12.56 billion reported during the same time last year. It was also a boon to PEP stock by coming in above analysts’ revenue estimate of $12.70 billion for the quarter.
PepsiCo also provides guidance for the full year of 2019 in its most recent earnings report. The company says that it is expecting earnings per share for the year to come in at $5.50. Wall Street is looking for earnings per share of $5.51 for the year.
PEP stock was up 3% as of noon Wednesday.
As of this writing, William White did not hold a position in any of the aforementioned securities.
