PepsiCo on Thursday reported quarterly earnings and revenue that topped analysts’ expectations after strong performances by its North American beverage and snack divisions.
But investors focused on the company’s weaker-than-expected forecast for 2020, and shares rose less 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: $1.45, adjusted, vs. $1.44 expected
- Revenue: $20.64 billion, vs. $20.27 billion expected
In 2020, Pepsi expects 4% organic revenue growth and 7% earnings per share growth after stripping out currency fluctuations. The company is forecasting adjusted…