PepsiCo Beats Estimates; NanoString Reveals Upbeat Revenue, Strategic Shift
- October 10th, 2023
- 707 views
PepsiCo, Inc. (Nasdaq: PEP) reported third-quarter 2023 earnings of $2.25 per share, surpassing the consensus EPS estimate of $2.15. The company's quarterly sales stood at $23.45 billion, slightly ahead of analysts' expectations of $23.43 billion in revenue.
PepsiCo is adjusting its full-year 2023 adjusted EPS guidance to $7.54, up from the previous estimate of $7.47. This revision exceeds the consensus EPS estimate of $7.49.
$PEP was trading at $163.90 in pre-market, showing an increase of $2.54 (+1.57%).
In other news, NanoString Technologies, Inc. (Nasdaq: NSTG) announced its anticipation of third-quarter 2023 revenue to exceed $48 million, beating the consensus estimate of $46.26 million in revenue for the period.
As part of a strategic reorganization aimed at improving path to profitability, NanoString said that it plans to streamline its research and development and manufacturing operations, expected to result in more than $15 million in annualized expense reductions.
In pre-market, $NSTG was trading at $1.29, up $0.09 (+7.50%).
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