Shares of PepsiCo Inc. rose 3% ahead of the bell on Thursday after the drinks and food company reported earnings that beat Wall Street estimates. The company said second-quarter adjusted profit came in at $1.32 share, beating FactSet estimates of $1.24 a share. Net profit rose slightly to $1.98 billion, or $1.33 a share, from $1.978 billion, or $1.29 a share, in the year-ago-period. Revenue fell 6% to $15.92 billion, beating forecasts of $15.80 billion. PepsiCo raised its full-year core constant currency EPS growth outlook to 8%, from 7% expected previously.
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