PepsiCo, Inc. (NYSE:PEP) released it earnings report for the three months ended September 30 this morning before the market opened on Wall Street. The beverage and food company showed earnings of $1.24 per share for the period. Pepsi brought in $16.96 billion in revenue in the period. Shares in PepsiCo were trading at $80.60 in pre-market hours.
In anticipation of this earnings report analysts following PepsiCo, Inc. (NYSE:PEP) were looking for earnings of $1.17 per share on revenue totaling $17 billion. In the same three months of last year the company earned $1.20 per share on revenue of $16.7 billion. Pepsi has faced some problems stemming from macroeconomic instability in recent years, but it seems that 2013 will see the firm return to growth.
PepsiCo earnings
PepsiCo, Inc. (NYSE:PEP) beat analyst expectations in this morning’s report, but the company showed some weakness in the American market. The firm says that drinks volume in the United States fell by around 4% year on year for the quarter, indicating that the decline in the American soda market is still in progress.
The firm’s most famous competitor, The Coca-Cola Company (NYSE:KO) released its earnings report yesterday. The beverage firm fell behind on revenue but beat slightly on earnings, mirroring the results that PepsiCo, Inc. (NYSE:PEP) released today.
PepsiCo performance
So far in 2013 shares in PepsiCo, Inc. (NYSE:PEP) have increased in value by just shy of 18%. The company has seen some growth this year, but worries about the company’s future in the developed world and competition in the developing world have put pressure on earnings and share valuation.
PepsiCo, Inc. (NYSE:PEP) executive will host an earnings call later on this morning in order to discuss this earnings report. The company’s investors and analysts will be looking to hear the managers’ ideas on growth in the developing world and the future of snack foods and soda in the developed world.