Pepsico Inc Q3 Profit Decreases, But Beats Estimates

(RTTNews) - Pepsico Inc (PEP) revealed earnings for third quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $2.930 billion, or $2.13 per share. This compares with $3.092 billion, or $2.24 per share, in last year's third quarter.

Excluding items, Pepsico Inc reported adjusted earnings of $3.189 billion or $2.31 per share for the period.

Analysts on average had expected the company to earn $2.29 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 0.6% to $23.319 billion from $23.453 billion last year.

Pepsico Inc earnings at a glance (GAAP) :

-Earnings (Q3): $2.930 Bln. vs. $3.092 Bln. last year. -EPS (Q3): $2.13 vs. $2.24 last year. -Revenue (Q3): $23.319 Bln vs. $23.453 Bln last year.