PepsiCo earnings beat estimates even as U.S. demand falls

PepsiCo on Thursday reported quarterly earnings and revenue that topped analysts’ expectations, despite weaker demand for its food and drinks in North America.

Shares of the company rose roughly 1% in premarket trading.

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

• Earnings per share: $2.12 adjusted vs. $2.03 expected
• Revenue: $22.73 billion vs. $22.27 billion expected

Pepsi reported second-quarter net income attributable to the company of $1.26 billion, or 92 cents per share, down from $3.08 billion, or $2.23 per share, a year earlier.

Excluding restructuring and impairment charges and other items, the company earned $2.12 per share.

Net sales rose 1% to $22.73 billion.