PEP Beats EPS and Revenue Estimates; Shares Rise 3.73%
PEP reported EPS of $2.34 vs a $2.29 estimate and revenue of $25.27 billion vs $24.95 billion on Oct. 8; the stock rose 3.73% to 128.34.
PEP was the only U.S.-listed company with a market value of at least $10 billion to report quarterly results on Thursday, Oct. 8, according to the earnings calendar. The company posted earnings per share of $2.34, compared with a consensus estimate of $2.29, a beat of $0.05, or 2.18%.
Revenue came in at $25.27 billion, above the $24.95 billion estimate by about $0.32 billion, or 1.29%. PEP's current market capitalization is about $185.02 billion. The calendar does not specify whether the report was issued before or after the trading session.
PEP shares rose 3.73% to close at 128.34, placing the stock fourth on the day's list of large-cap gainers. ACN led that list with a 5.96% gain, followed by PM, up 4.05%, and LOW, up 4.03%. ADBE rounded out the top five with a 3.56% rise.
The Consumer Staples sector fund XLP gained 2.11% to 83.42, the second-best sector performance of the day behind Energy (XLE), which rose 2.97%. The broader market was mixed: SPY fell 0.42% and QQQ dropped 1.34%, while DIA edged up 0.12%. Technology (XLK) was the weakest sector, down 1.79%. The biggest large-cap decliners on the day were ORCL, down 5.48%, AVGO, down 4.35%, and AMD, down 3.90%.
Outside earnings, the Wall Street Journal reported “Arini, Hedge Fund Known for Bold Bets, Loses 16%,” and Reuters reported “Refresco plots potential IPO at $10 billion-plus valuation, sources say.”
Data
| Symbol | EPS actual | EPS estimate | Revenue actual | Revenue estimate | EPS vs estimate |
|---|---|---|---|---|---|
| PEP | 2.34 | 2.29 | $25.27B | $24.95B | beat |
Data: FMP. Figures are close-to-close unless stated.
In the news
Neutral market summary for information only; not investment advice.
← All journal entries