PEP - PepsiCo's Q2 Performance Annual Outlook Underwhelms Investors Stock Slides | Benzinga
PepsiCo Inc (NASDAQ:PEP) shares are trading lower after the company reported worse-than-expected second-quarter FY24 revenue.
The company reported second-quarter sales growth of 0.8% year-on-year to $22.501 billion, missing the analyst consensus estimate of $22.599 billion.
Net revenue from Frito-Lay North America decreased 0.5% Y/Y, Quaker Foods North America plunged 18%, and PepsiCo Beverages North America climbed 1%.
Latin America sales jumped 7% Y/Y, and Europe sales rose 2.5%. Gross profit increased 3.2% Y/Y to $12.6 billion, and the margin expanded 126 basis points Y/Y to 55.9%.
Operating margin expanded by ...