Pepsico Q2 Results Beats Consensus; Net Falls 3%

Pepsico PEP, the soft drink and snacks giant, today reported a 3% fall in its second quarter net income. PEP’s core net income totaled $1.6 billion, or $0.98 share, down from $1.66 billion, or $1.06 a share, in the same quarter a year ago. After currency adjustments, the company’s EPS for the second quarter came in at $1.10, as compared to the consensus of $1.08. Pepsico’s revenue for the quarter stood at $14.8 billion, up from $10.6 billion in the same quarter a year before, as the company benefited from the acquisition of two of its bottlers. The analysts were expecting PEP to generate revenue of $14.41 billion during the quarter. In the second quarter, Pepsico’s revenue jumped 112% at PepsiCo Americas Beverages, 47% at the Europe division, 2% at Frito-Lay North America and 22% at the Asia, Middle East & Africa division. For FY10, PEP has maintained its core constant currency earnings per share growth forecast at 11%-13%. PEP’s shares lost 0.71% to $61.61 in pre-market trading. Read more from Benzinga's Company news.