PepsiCo Announces Strong Earnings

PepsiCo reported strong performance on several fronts. On Tuesday morning, premarket session did not look as positive as Monday’s Wall Street. Awaiting US CPI data has turned Tuesday into a kind of a waiting lounge for the markets.

The Earnings season is starting this week, and one of the first companies to report was PepsiCo (PEP -0.57%). The company’s financial results were good. Shares were higher by more than 1% on Tuesday morning. Investors felt pleased with the company’s second-quarter results.

PepsiCo enjoyed a 5.2% rise in revenue in the second quarter, overcoming the negative impact by the strong US dollar that took away about 3 percentage points of sales growth. On an adjusted basis, core earnings came in at $1.86 per share, which was 10% higher than in 2021. Many of PepsiCo’s business units stood out as strong performers as well.