Investing.com - Beverage giant Pepsi reported better-than-expected second quarter earnings and revenue figures, it announced early Wednesday.
Pepsico (NYSE:PEP) said earnings per share came in at $1.32 in the second quarter, beating expectations for earnings of $1.23 per share.
The firm’s second quarter revenue came in at $16.89 billion, above estimates for revenue of $16.8 billion.
"Despite operating in what continues to be a challenging and volatile macro environment, we are delivering consistent, strong results," said Chairman and CEO Indra Nooyi.
Based on the strength of the company’s year-to-date results and the outlook for the remainder of the year, Pepsi increased its full-year, core constant currency EPS growth target to 8%.
Pepsico (NYSE:PEP) shares inched up 0.1% in trading prior to the opening bell.
Meanwhile, the outlook for U.S. equity markets was upbeat. The Dow indicated a gain of 0.1% at the open, the S&P 500 pointed to a rise of 0.1%, while Nasdaq 100 tacked on 0.1%.