PepsiCo’s net income jumps to £1.78 billion in the fiscal third quarter.

PepsiCo Inc. (NASDAQ: PEP) published its earnings reports for the fiscal third quarter on Thursday that came in stronger than what analysts had anticipated. PepsiCo partnered with USAID in September to empower women in Agriculture.

Shares of the company were seen trading 2% up in premarket trading on Thursday. Including the price action, PepsiCo is now exchanging hands at £108.25 per share. In comparison, it had plummeted to as low as £81 per share in March. Here’s what you need to know about how can you start trading on the stock market?

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PepsiCo said that its net income in the third quarter came in at £1.78 billion that translates to £1.29 per share. In the same quarter last year, it had recorded a lower £1.64 billion of net income or £1.16 per share.

PepsiCo’s Q3 financial results versus analysts’ estimates

According to FactSet, experts had forecast the company to print £13.42 billion of revenue in the recent quarter. In terms of earning per share, their estimate was capped at £1.16 per share. In its report on Thursday, PepsiCo topped both estimates printing a higher £14.09 billion of revenue and £1.29 of adjusted earnings per share in Q3.

The beverage company’s revenue in the comparable quarter of 2019 had come in at a lower £13.39 billion. PepsiCo’s organic revenue in the third quarter posted a 4.2% annualised growth. In the prior quarter (Q2), it had noted a 3.1% year over year decline in sales due to the Coronavirus restrictions.

The COVID-19 crisis has so far infected more than 7.4 million people in the United States and caused over 210 thousand deaths.

For the full financial year, the American multinational now forecasts £4.29 of earnings per share versus a lower £4.18 expected, as per FactSet. It kept its outlook unchanged for annual organic revenue at a 4% growth.

Other prominent figures in PepsiCo’s earnings report

Other prominent figures in PepsiCo’s financial results on Thursday include a 6% year over year growth in organic revenue from Frito-Lay and Quaker Foods segments. Its North American beverage business registered a 3% annualised growth in the fiscal third quarter.

PepsiCo performed fairly upbeat in the stock market last year with an annual gain of more than 20%. At the time of writing, the Harrison-based company has a market cap of £149.50 billion and a price to earnings ratio of 28.31.