PepsiCo is reporting better-than-expected profit and revenue as the company continues its shift to healthier snacks and drinks under a new CEO.
The Purchase, New York, company on Tuesday posted second quarter earnings of $2.04 billion, or $1.44 per share. The per share earnings were $1.54 when adjusted for one-time items, or a nickel better than Wall Street had expected, according to a survey by Zacks Investment Research.
Revenue was $16.45 billion, also beating analyst forecasts for $16.39 billion.
PepsiCo expects full-year earnings to be $5.50 per share.
PepsiCo shares have climbed 20% since the beginning of the year, double that of rival Coca-Cola Co.
Portions of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PEP at https://www.zacks.com/ap/PEP