American Pepsico reports an increase in sales revenue of 1.9 percent for the second quarter, adjusted for non-recurring items. The soft drink giant – which, in addition to the flagship Pepsi, has brands such as Mountain Dew and chips in its product portfolio – thus misses market expectations.
Analysts had on average expected an organic sales increase of 2.9 percent, according to Bloomberg's compilation of forecasts.
In dollar terms, net sales increased by 0.8 percent to 22.5 billion dollars, compared to expected 22.6 billion.
The earnings per share for the core business during the quarter amount to 2.28 dollars per share, up from 2.09 dollars per share during the corresponding quarter last year. On that line, Pepsico exceeded expectations, which were at a profit of 2.15 dollars per share.
