PepsiCo: remains 'confident' after strong start to year
(CercleFinance.com) - PepsiCo said on Wednesday that it has had a "strong start to the year" and that it remains "confident" in achieving its 2019 financial targets that it provided earlier this year.
For the first quarter which has just ended, the maker of Lay's potato chips and Tropicana orange juices, and of course the iconic Pepsi cola drinks, posted net income of 1.4 billion dollars, or one dollar per share, up from 1.3 billion, or 94 cents per share, a year earlier.
Net revenue fell 2.6% to 12.9 billion dollars.
While adverse foreign exchange translation weighed on its performance, underlying organic revenue growth accelerated to over 5% in the quarter, the group said.
For 2019, Pepsi continues to expect full-year organic revenue growth of 4%.
PepsiCo shares were up 1.6% in pre-market trading today.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
For the first quarter which has just ended, the maker of Lay's potato chips and Tropicana orange juices, and of course the iconic Pepsi cola drinks, posted net income of 1.4 billion dollars, or one dollar per share, up from 1.3 billion, or 94 cents per share, a year earlier.
Net revenue fell 2.6% to 12.9 billion dollars.
While adverse foreign exchange translation weighed on its performance, underlying organic revenue growth accelerated to over 5% in the quarter, the group said.
For 2019, Pepsi continues to expect full-year organic revenue growth of 4%.
PepsiCo shares were up 1.6% in pre-market trading today.
Copyright (c) 2019 CercleFinance.com. All rights reserved.