PepsiCo's Strong Global Earnings Defy North American Slump
PepsiCo surpassed earnings predictions in the second quarter, reporting $22.7 billion in revenue despite a slowdown in North American sales. The company noted a 59% drop in net income, blaming increased tariff costs and consumer spending pullbacks. Global sales growth was seen in Latin America and Asia.
PepsiCo has reported a robust financial performance in the second quarter, surpassing Wall Street expectations despite sluggish sales in North America.
The company announced a 1% drop in its North American Frito-Lay and related snack sales and a 2% decline in beverage sales. However, international operations, especially in Latin America and Asia, provided a bright spot with increased sales.
Revenue during the April-June period rose to $22.7 billion, outpacing analysts' predictions. Despite a 59% decrease in net income partly due to heightened tariff and aluminum costs, PepsiCo shares rose over 2% in early trading.
(With inputs from agencies.)
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