Pepsico posts better-than-expected second quarter despite lower us sales
Revenue rose less than 1 percent to $22.7 billion in the April–June period. That was higher than the $22.3 billion Wall Street forecast, according to analysts polled by FactSet. PepsiCo's net income fell 59 percent to $1.3 billion. Adjusted for one-time items, PepsiCo earned $2.12 per share. That was also higher than the $2.03 analysts' forecast. PepsiCo shares rose more than 2 percent in premarket trading Thursday.
PepsiCo lowered its full-year earnings expectations in April, citing increased costs from tariffs and a pullback in consumer spending. The company reaffirmed that guidance Thursday. Its tariff costs have risen since then. In June, the Trump administration hiked the tariff on imported aluminum from 25 percent to 50 percent.
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