PepsiCo, Inc. (NASDAQ:PEP) reported second-quarter results Thursday that topped revenue expectations but fell just short on adjusted earnings, sending the stock lower in premarket trading.
While revenue exceeded Wall Street estimates, investors appeared disappointed by a slight adjusted EPS miss, weaker-than-expected North American organic sales and the company’s decision to maintain, rather than raise, its full-year guidance.
Sentiment may also have been pressured by recent price forecast cuts from JPMorgan, Barclays, BNP Paribas and UBS.
PepsiCo Q2 Revenue And Profit Growth
Net revenue rose 6.4% year over year to $24.18 billion, beating the $23.96 billion analyst estimate. Core EPS increased 4% to $2.20, missing the $2.21 estimate, while GAAP EPS rose 137% to $2.18.
