Pepsi bottles with new and previous logos are seen at the grocery store in Las Vegas, United States on November 17, 2023.
Jakub Porzycki | Nurphoto | Getty Images
PepsiCo reported mixed quarterly results Thursday, hurt by declining demand in North America for its drinks and snacks.
The company also narrowed its revenue outlook for the full year.
Shares of the company fell more than 2% in premarket trading.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:
- Earnings per share: $2.28 adjusted vs. $2.16 expected
- Revenue: $22.5 billion vs. $22.57 billion expected
Pepsi reported second-quarter net income attributable to the company of $3.08 billion, or $2.23 per share, up from $2.75 billion, or $1.99 per share, a year earlier.
Excluding items, the company earned $2.28 per share.
Net sales rose nearly 1% to $22.5 billion.
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