PepsiCo Inc. (NASDAQ: PEP) said on Thursday that its sales and profit came in better than expected in the fiscal first quarter, despite the ongoing impact of the Coronavirus pandemic on business globally.
PepsiCo shares opened at £102.78 on Thursday and closed the regular session at £103.15. In comparison, the stock had tanked to a year-to-date low of £93.46 per share in March. If you want to invest in the stock market online, you will need a reliable stockbroker – here is a list of the top few to make selection easier for you.
PepsiCo Q1 financial results versus analysts’ estimates
PepsiCo said that its net income in the first quarter printed at £1.24 billion that translates to 90 pence per share. In the same quarter last year, its net income was capped at a lower £970 million, or 69.64 pence per share.
On an adjusted basis, the food and beverage company earned 88 pence per share in Q1. PepsiCo generated £10.75 billion of net revenue in the quarter that concluded on 20th March versus the year-ago figure of £10.07 billion.
According to FactSet, experts had forecast the company to post £10.56 billion of revenue in the recent quarter. Their estimate for adjusted per-share earnings stood at a lower 81 pence. In the prior quarter (Q4), PepsiCo registered an 8.8% increase in revenue.
The American multinational reported a 2.4% organic growth in first-quarter revenue. Other prominent figures in PepsiCo’s earnings report on Thursday include a 4% annualised growth in revenue from Frito-Lay in North America. Revenue from Quaker Foods jumped 2% in North America, while the beverage segment saw a 5% year over year increase in regional revenue.
PepsiCo’s revenue tanked 5% in Latin America
In Latin America, the Purchase-headquartered firm said, revenue tanked 5% in Q1, while in Europe, it was 2% lower than last year. Revenue from South Asia, Middle East, and Africa climbed by 40%. The broadest growth in revenue was seen in Australia, New Zealand, China, and the Asia Pacific, at 70%.
In separate news from the United States, sports betting operator DraftKings said it signed an agreement with the NFL.
PepsiCo performed slightly upbeat in the stock market last year with an annual gain of close to 10%. At the time of writing, the Nasdaq-listed company has a market cap of £142.47 billion and a price to earnings ratio of 27.82.
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