Pepsi Proves Again Why It's a Better Stock Than Coke
Shares of PepsiCo (NASDAQ: PEP) gained ground Monday after the food-and-beverage giant posted better-than-expected results in its second-quarter earnings report.
During a pandemic-ridden period, Pepsi's performance slipped from a year ago but still topped the analyst mark. Organic sales, which exclude the effect of acquisitions, divestitures, and foreign currency, fell 0.3%, while revenue dipped 3.1% to $15.9 billion, but still beat estimates at $15.44 billion. On the bottom line, adjusted earnings per share fell from $1.54 to $1.32, but topped expectations at $1.25. Profits fell as COVID-19 led to additional expenses, and Pepsi's performance was challenged in beverages.
Image source: Pepsi.
Source Fool.com
