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PURCHASE, N.Y. (AP) — PURCHASE, N.Y. (AP) — PepsiCo Inc. (PEP) on Thursday reported second-quarter profit of $2.75 billion.
The Purchase, New York-based company said it had profit of $1.99 per share. Earnings, adjusted for one-time gains and costs, came to $2.09 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.95 per share.
The food and beverage company posted revenue of $22.32 billion in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $21.61 billion.
PepsiCo expects full-year earnings to be $7.47 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a PEP">Zacks stock report on PEP at https://www.zacks.com/ap/PEP