PepsiCo, Inc (NYSE: PEP), one of the world’s leading food and beverage companies the made over $63 Billion in net revenue in 2016, announced there Q2 earnings early trading day on Tuesday. Their earnings reportedly beat analysts’ estimates of $1.40 per share and revealed $1.50 per share. Considering that 1.43B shares with 72% of it are owned by institutions, investors seemed to have decided to ride out the news, as earlier in the week it traded around $115. Whereas on Tuesday, the stock seen about 232.33K in volume movement just before the opening bell, PepsiCo’s prices nearly touched the $114 mark which was shy of just $0.02. The stock prices seemed to be flat, with a range between $112.25-$113.98.
PepsiCo Q2 earnings reported a 10% earnings growth, which translates to $2.16B up from $1.97B of Q2 2016. EPS is up 11.1% from $1.35 in Q2 2016 compared to the $1.50 that was reported for Q2 2017. The increase is due to the increase in prices for their goods, according to their earnings report. Revenue is up 2% or $15.71B compared to Q2 of 2016 at $15.40B. The company suffered a few losses due to the translation of foreign exchange.
Indra Nooyi, Chairman and CEO of Pepsico, Inc stated in their press release: “Our results for the second quarter were very much in line with our expectations and we remain on track to meet our 2017 financial goals. The power and durability of our brand and product portfolios, strong marketplace execution, and the balance of our geographic footprint enabled us to deliver strong operating results in the midst of pockets of macroeconomic challenges and increasingly dynamic retail and consumer landscapes.”