PepsiCo raises full-year guidance on strong Q3 results

Wall Street expectations were largely beaten in PepsiCo's third quarter earnings report on Thursday, which was released ahead of the opening bell.

As a result, the company boosted its full-year guidance based on its performance thus far this year.

PepsiCo earned $1.99bn for the period to September 3, or $1.37 per share. Adjusted for one-time costs and restructuring, EPS were $1.40, which easily cleared the $1.32 expected by analysts.

The company has said that it now sees earnings for the full year to come out at $4.78 per share, after its previous outlook of $4.71.

Chairman and CEO of PepsiCo Indra Nooyi said the company was pleased with the quarterly results.

"We are executing our strategy well and managing what is in our control," Nooyi said. "Our product portfolio, geographic mix and capability centers are enabling us to deliver balanced revenue and productivity."