PepsiCo Reports Mixed Q2 2024 Results

PepsiCo reported mixed results for Q2 2024, with earnings surpassing estimates at $2.28 per share but revenues falling short at $22.5 billion. The company's international business showed significant growth, but North American units experienced declining volumes due to persistent inflation and subdued category demand. Despite a robust EPS of $2.28 compared to the estimated $2.15, shares fell by over 2% in pre-market trading. The company also narrowed its revenue outlook for the full year, reflecting cautious future expectations. PepsiCo's stock has underperformed the market this year, losing about 3.7% since January.