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PURCHASE, N.Y. (AP) — PURCHASE, N.Y. (AP) — PepsiCo Inc. (PEP) on Thursday reported fourth-quarter earnings of $518 million.
The Purchase, New York-based company said it had net income of 37 cents per share. Earnings, adjusted for one-time gains and costs, were $1.67 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.64 per share.
The food and beverage company posted revenue of $28 billion in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $26.85 billion.
PepsiCo expects full-year earnings to be $7.20 per share.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a PEP">Zacks stock report on PEP at https://www.zacks.com/ap/PEP