PepsiCo Inc., Purchase, N.Y., reported results for the second quarter of its 2016 fiscal year.
“In what continues to be an incredibly volatile global macro environment, we are pleased with our results for the second quarter,” Chairman and Chief Executive Officer Indra Nooyi said in a statement. “While reported net revenue performance was negatively impacted by foreign exchanges translation and the deconsolidation of our Venezuelan operations, we delivered balanced volume growth and positive price/mix driven by relentless execution of our commercial agenda and leading to solid organic revenue growth. At the same time, our focus on driving greater efficiency throughout or operations contributed significantly to attractive margin expansion while we continued to invest in our business. Based on our year-to-date performance, we are raising our full-year core constant currency EPS growth objective.”