Tuesday 9 July 2019 4:21 pm

Pepsico beats analyst expectations in second quarter results

Pepsico reported boosted revenue growth and profit today, beating analyst expectations in its second quarter results.

The company, which owns brands such as Pepsi, Doritos and Tropicana, said net revenue growth was 2.2 per cent in the second quarter and 2.4 per cent in the year-to-date. 

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Organic revenue growth, which strips out the impact of currency fluctuations and acquisitions, was 4.5 per cent in the three months to 15 June.

Gross profit was $9bn, up from $8.8bn in the second quarter of last year. 

Revenue in its US snacking division, Frito-Lay North America, rose 4.5 per cent, while it increased 2.5 per cent in its drinks unit.

Pepsico said it expects full-year organic revenue growth to be four per cent, in line with expectations. 

Ramon Laguarta, Pepsico chief executive and chairman, said: “We are pleased with our results for the second quarter. 

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“While adverse foreign exchange transition negatively impacted our reported net revenue performance, our organic revenue growth was 4.5 per cent in the quarter.” 

He added that the firm had “increased confidence” in achieving its 2019 financial targets.