PepsiCo Inc. PEP Shares,
A 1.8% recovery in pre-market trading rebounded on Monday, after the beverage and snack giant reported second-quarter earnings and revenues that fell less than expected as the snack and food business held steady. resistant in the midst of the COVID-19 pandemic. Net income fell to $ 1.65 billion, or $ 1.18 per share, from $ 2.04 billion, or $ 1.44 per share, in the same period last year. Excluding non-recurring items, core earnings per share reached $ 1.32, above the FactSet consensus of $ 1.25. Revenue fell 3.1% to $ 15.95 billion, but it exceeded the FactSet consensus of $ 15.37 billion. Frito-Lay North America revenue increased 6.6% to $ 4.27 billion, North American beverage revenue fell 6.6% to $ 4.97 billion and Quaker Foods North America revenue grew 23.0% to $ 664 million. The company said it was not providing year-round financial guidance due to uncertainties associated with the pandemic, but said it plans to return $ 7.5 billion to shareholders through dividends of $ 5.5 billion and buybacks of shares of approximately $ 2 billion. The stock has gained 2.7% in the past three months, while the S&P 500 SPX,
It is up 15.3%.
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