PepsiCo (PEP) reported fiscal Q3 core earnings Tuesday of $2.25 per diluted share, up from $1.97 a year earlier.
Analysts polled by Capital IQ expected $2.15.
Net revenue for the quarter ended Sept. 9 was $23.45 billion, up from $21.97 billion a year earlier. Analysts surveyed by Capital IQ expected $23.41 billion.
The company said it now expects fiscal 2023 core EPS of $7.54, up from its prior guidance of $7.47. Analysts surveyed by Capital IQ are looking for $7.48.
Organic revenue for the fiscal year is still projected to grow 10%, the company said.
Additionally, the company said it expects to deliver results in fiscal 2024 that are near the upper end of its long-term target ranges for organic revenue and core constant currency EPS growth.
The company also said that its long-term target ranges for organic revenue growth, which is expected to be 4% to 6%, and core constant currency EPS growth, which is expected to be in the high-single digits, remain unchanged.