PepsiCo. Second-quarter Earnings Beats Wall Street Forecasts

By Carla Mozee 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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