On Tuesday, beverage manufacturer PepsiCo announced that it had beaten Wall Street’s third financial quarter revenue and earnings estimates.
Pepsi reportedly pulled in $2.25 in earnings per share compared to the predicted $2.15 per share, and $23.45 billion in revenue compared to the $23.39 billion expected.
As a result, Pepsi raised its full-year earnings outlook.
Pepsi stock subsequently rose 2% in premarket trading Tuesday.
