Pepsi earned $1.13 billion, or 71 cents a share, down slightly from year-earlier earnings of $1.14 billion, or 71 cents. Core earnings were 69 cents a share; analysts were expecting 67 cents.
First-quarter earnings included a gain of 4 cents a share from mark-to-market commodity hedges and a charge of a penny a share related to restructuring.
Pepsi's first-quarter revenue rose 4% to $12.43 billion from year-earlier revenue of $11.94 billion; analysts estimated revenue of $12.36 billion.Pepsi reiterated previous full-year 2012 guidance that calls for a potential 5% decline in core earnings per share of $4.40 a share in 2011. The company said it anticipates giving shareholders about $6 billion this year through dividends and share buybacks. Shares of Pepsi ticked up 12 cents, or 0.18%, in premarket trading Thursday to $66.79.
>To contact the writer of this article, click here: Alexandra Zendrian >To submit a news tip, send an email to: email@example.com. >To follow the writer on Twitter, go to Alexandra Zendrian.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV