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Pepsi-Cola sign in Long Island City, New York.
Eugene Gologursky | Getty Images
PepsiCo on Tuesday reported its first-quarter adjusted earnings rose 10%, but the company pulled its fiscal 2020 outlook.
Shares of the company rose less than 1% in premarket trading.
Here’s what the company reported:
- Earnings per share: $1.07, adjusted
- Revenue: $13.88 billion
Excluding items, Pepsi earned $1.07 per share.
Net sales rose 7.7% to $13.88 billion.
Wall Street anticipated earnings per share of $1.03 on revenue of $13.21 billion, based on a survey of analysts by Refinitiv. However, it’s difficult to compare reported earnings to analyst estimates for Pepsi’s quarter, as the coronavirus pandemic has made it difficult to predict earnings.
