PepsiCo (PEP) stock is down by more than 1% at the start of trading Thursday after the snack food and beverage giant reported mixed results for its second quarter and revised its full-year revenue outlook.
In the 12 weeks ended June 15, PepsiCo’s revenue increased 0.8% year-over-year to $22.5 billion as volumes declined 4% and 3%, respectively, in its Frito-Lay and PepsiCo Beverages segments in North America. Its earnings per share (EPS) increased 9.1% to $2.28 from the year-ago period.
