Pepsi reported adjusted earnings for the three months ending on June 15 that came in at $1.54 per share, down 4.34% from the same period last year but 2 cents ahead of the Street consensus forecast. According to Pepsi, group revenues rose 2.23% to $16.449 million, largely in-line with analysts forecasts.
"We are pleased with our results for the second quarter," said CEO Ramon Laguarta. "While adverse foreign exchange translation negatively impacted our reported net revenue performance, our organic revenue growth was 4.5% in the quarter."
But Jim Cramer had some thoughts about what he didn't like about the quarter.
"If I wanted to nitpick what was wrong with Pepsico. I didn't like Mountain Dew. That number wasn't so great. I wish the Gatorade, was a tad stronger? Gatorade was too weak. I feel that even though people are talking about Bubly being big, that's premature. I mean that's like not as big as I thought. I didn't like the way that SodaStream hasn't really been effective in the United States," said Cramer.