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PepsiCo beats Wall Street estimates, raises earnings outlook

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Pepsi products at a convenience store in Crockett, California, US, on Friday, June 16, 2023.
David Paul Morris | Bloomberg | Getty Images

PepsiCo

Shares of the company rose 2% in premarket trading.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG, formerly known as Refinitiv:

Earnings per share: $2.25 adjusted vs. $2.15 expectedRevenue: $23.45 billion vs. $23.39 billion expected

Pepsi reported third-quarter net income attributable to the company of $3.09 billion, or $2.24 per share, up from $2.7 billion, or $1.95 per share, a year earlier.

Excluding items, the company earned $2.25 per share.

Net sales rose 6.7% to $23.45 billion.

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