Pepsico, Inc. (NASDAQ:PEP) reported net income of $ 1.82 billion or per share of $ 1.28 for the second quarter.
The company delivered net revenue of $ 16.09 billion for the same period representing year-over-year growth of 2 percent that exceeded street analysts expectation by $ 50 million.
However, on an adjusted basis, Pepsico, Inc. reported Non-GAAP core income of $ 1.61 a share for the same period that exceeded market expectations.
Analysts polled by Thomson Reuters expected Pepsico to report income of $ 1.52 per share on revenue of $ 16.04 billion for the second quarter. Analysts estimate normally exclude one time gain or loss.
Chairman and CEO Indra Nooyi, commented, We are pleased with our results for the second quarter and we remain on track to achieve the financial targets we set out at the beginning of the year. The majority of our businesses performed very well, particularly our international divisions propelled by continued growth in developing and emerging markets, and our North America Beverages sector posted sequential net revenue and operating profit performance improvement.