PepsiCo tops Q2 revenue estimates as US demand weakens
What's new: Shares fell more than 4% after PepsiCo flagged slower recovery in North America despite keeping its 2026 outlook.
PepsiCo beat Wall Street’s second-quarter revenue estimates, helped by stronger international demand, even as weaker US spending weighed on its North American food and beverage business. Revenue rose 6.4% to $24.18 billion, above the $23.95 billion analysts expected, while adjusted earnings per share came in at $2.20 versus estimates of $2.21. The company said tighter household budgets and high gas prices hurt demand, especially in convenience stores. North American beverage volume fell 4%, while food volume was flat. PepsiCo kept its full-year forecast unchanged, projecting 2% to 4% organic revenue growth and 4% to 6% growth in core constant-currency earnings per share.