PepsiCo tops estimates as pandemic snacking helps fuels 6.8% revenue gain

PepsiCo on Thursday reported quarterly earnings that topped analyst estimates as consumers maintained their pandemic snacking habits.

Shares of the company rose less than 1% in premarket trading.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

• Earnings per share: $1.21 adjusted vs. $1.12 expected
• Revenue: $14.82 billion vs. $14.55 billion expected

Pepsi reported fiscal first-quarter net income of $1.71 billion, or $1.24 per share, up from $1.34 billion, or 96 cents per share, a year earlier.

Excluding items, the food and beverage giant earned $1.21 per share, beating the $1.12 per share expected by analysts surveyed by Refinitiv.

Net sales rose 6.8% to $14.82 billion, topping expectations of $14.55 billion.