PepsiCo 3Q Profit, Revenue Top Analyst Estimates

Both adjusted earnings and revenues topped Wall Street estimates.

PepsiCo’s third-quarter profit dropped due to charges related to economic turmoil in Venezuela, but it beat almost all expectations and shares rose almost 4 percent before the opening bell Tuesday.

“We are pleased with our performance for the third quarter of 2015”, CEO Indra Nooyi said. “Despite ongoing volatility in many of our key worldwide markets, we delivered strong organic revenue growth, gross margin expansion and double-digit core constant currency EPS growth”.

On a different note, The Company has disclosed insider buying and selling activities to the Securities Exchange, The officer (EVP PepsiCo & CFO) of Pepsico Inc, Johnston Hugh F sold 30,073 shares at $96.82 on May 22, 2015. ( PEP ) reported third-quarter net income attributable to company of $533 million or $0.36 per share, compared to $2.01 billion or $1.32 per share, last year.

At Quaker Foods North America, revenue edged down less than 1 percent, despite productivity gains, lower commodity costs and favorable product mix.

The drinks and snacks company said earlier today that its Pepsi North America Beverages (NAB) division saw sales in the nine months to 5 September increase by 2.3%, an improvement on the 1% lift in the company’s half-year, as reported in July.

PepsiCo (PEP) shares were up 2.5% in pre-market trading, trading at $98.45. On average, analysts anticipate that PepsiCo will post $4.53 earnings per share for the current fiscal year. In organic terms, PepsiCo’s total sales in the year-to-date were up by nearly 7.5%. Stockholders of record on Friday, September 4th were given a $0.7025 dividend.