PepsiCo. Second-quarter Earnings Beats Wall Street Forecasts

By Markets MarketWatch Pulse

PepsiCo. Inc. on Thursday posted quarterly adjusted earnings that exceeded analyst expectations, with revenue meeting Wall Street's target. Second-quarter net earnings at the beverages heavyweight came in at $2.01 billion, or $1.38 a share, up from $1.99 billion, or $1.33 a share, a year ago. Adjusted earnings were $1.35 a share. Revenue was $15.4 billion, down from $15.9 billion a year ago. Analysts polled by FactSet had expected adjusted earnings of $1.29 a share, on revenue of $15.4 billion. The Pepsi soda maker also estimated 2016 organic revenue growth of 4%. It expects to return $7 billion to shareholders in 2016 through dividends of $4 billion and share buybacks of $3 billion.

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