PepsiCo's revenue up 6.8% to $14.8B in Q1

Thursday, 15. April 2021 12:01

PepsiCo said on Thursday that its net revenue in the first quarter of 2021 stood at $14.8 billion, rising 6.8% compared to the same period a year earlier and topping market estimates.

GAAP diluted earnings per share (EPS) for the quarter jumped 29% to $1.24, while adjusted EPS rose 14% to $1.21. Meanwhile, GAAP net income amounted to $1.7 billion.

"We are pleased with our results for the first quarter as we successfully overcame challenges related to difficult year-over-year comparisons, uneven recoveries across many of our international markets and weather-related business disruptions in the US," CEO Ramon Laguarta stated. "Following our first-quarter results, we have greater confidence in delivering on our financial guidance for the full year," he added.

PepsiCo shares gained 0.42% in premarket trading on better-than-expected results.

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