PepsiCo earnings top estimates, but quarterly revenue slides


Pepsi bottles are seen at the grocery store in Las Vegas, United States on November 17, 2023.

Jakub Porzycki | Nurphoto | Getty Images

PepsiCo on Friday reported mixed quarterly results as North American demand for its food and drinks weakened.

Shares of the company fell more 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: $1.78 adjusted vs. $1.72 expected
  • Revenue: $27.85 billion vs. $28.4 billion expected

Pepsi reported fourth-quarter net income of $1.3 billion, or 94 cents per share, up from $518 million, or 37 cents per share, a year earlier.

Excluding items, the food and beverage giant earned $1.78 per share.

Net sales dropped 0.5% to $27.85 billion.

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