PepsiCo: Q3 Earnings Snapshot

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PURCHASE, N.Y. (AP) — PURCHASE, N.Y. (AP) — PepsiCo Inc. (PEP) on Tuesday reported third-quarter net income of $2.93 billion.

On a per-share basis, the Purchase, New York-based company said it had profit of $2.13. Earnings, adjusted for restructuring costs and non-recurring costs, were $2.31 per share.

The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.30 per share.

The food and beverage company posted revenue of $23.32 billion in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $23.9 billion.

PepsiCo expects full-year earnings to be $8.15 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 Zacks stock report on PEP at https://www.zacks.com/ap/PEP