PURCHASE, N.Y. — PepsiCo Inc. today reported third-quarter net income of $2.29 billion.
The company said it had profit of $1.65 per share. Earnings, adjusted for one-time gains and costs, came to $1.66 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.48 per share.
The food and beverage company posted revenue of $18.09 billion in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $17.29 billion.
PepsiCo expects full-year earnings to be $5.50 per share.
PepsiCo shares have climbed slightly more than 1% since the beginning of the year, while the Standard & Poor’s 500 index has increased 4%. The stock has climbed 1% in the past 12 months.