PepsiCo (PEP) earnings Q3 2019

A woman grabs a bottle of Diet Pepsi in Atlanta, Georgia.Chris Rank | Bloomberg | Getty ImagesPepsiCo on Thursday announced quarterly earnings and revenue that topped expectations.Shares of the food and beverage giant jumped 3% 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: $1.56, adjusted, vs. $1.50 expectedRevenue: $17.19 billion vs. $16.93 billion expectedPepsi reported fiscal third quarter net income of $2.1 billion, or $1.49 per share, down from $2.5 billion, or $1.75 per share, a year earlier.Excluding the impact of foreign exchange, restructuring charges and other items, Pepsi earned $1.56 per share, topping the $1.50 per share expected by analysts surveyed by Refinitiv.Net sales rose 4.3% to $17.19 billion, topping expectations of $16.93 billion. Frito Lay North America, which includes brands like Cheetos and Doritos, saw revenue growth of 5.5%. Its North American beverage business also performed well, with 3.5% revenue growth. Organic revenue also grew by 4.3% during the quarter.”Given our performance year-to-date, we now expect to meet or exceed our full-year organic revenue growth target of 4%,” CEO Ramon Laguarta said in a statement.The company reaffirmed its earnings outlook for fiscal 2019. It expects adjusted earnings per share, assuming constant foreign currency exchange rates, to decline by 1%.

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