With earnings per share of $2.09, over the projected $1.96, PepsiCo outperformed expectations in the second quarter. The corporation raised its full-year projection with a projected 10% organic sales increase in 2023 due to its quarterly revenue exceeding expectations, reaching $22.32B versus the anticipated $21.73B. The company's net income during the second quarter of 2017 increased from $1.43B to $2.75B. - The company's volume decreased due to lower demand and improved pricing, with a 3% decline in the food sector and a 1% decline in beverages.
- Despite difficulties, PepsiCo's volume decline was not as severe as anticipated because of the low unemployment rate around the world.
- While Frito-Lay North America witnessed a 1% volume rise, Quaker Foods North America suffered a 5% drop.
- During the quarter, PepsiCo's spending on advertising and marketing grew by double digits.
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