PepsiCo rises after forecasting smaller fall in annual core profit, upbeat quarter

Shares of PepsiCo PEP.O up as much as 7.4% at $145.32 - highest since April 2025

If gains hold, stock set for best day since April 2020

Co expects smaller drop in annual core profit owing to resilient demand for its energy drinks and healthier soda brands

Expects full-year core earnings per share to fall 1.5% vs 3% decline projected previously

Posts second-quarter revenue of $22.73 billion vs analysts' estimates of $22.28 billion, as per data compiled by LSEG

*Logs quarterly adjusted profit of $2.12 per share, beating estimates of $2.03 per share

*We acknowledge PEP shares are cheap on a historical basis but are looking for continued delivery and further volume improvements in North America for valuation to move higher, said Nik Modi, analyst with RBC Capital Markets

Up to last close, stock down about 11% YTD