PepsiCo reported its second-quarter 2025 earnings with a core EPS of $2.12, surpassing the consensus estimate of $2.03. The company posted net revenue of $22.73 billion, also beating estimates around $22.28 billion, and achieved organic revenue growth of 2.1%, exceeding the projected 1.9%. North America Foods revenue was $6.44 billion, slightly above expectations, while operating profit was $1.79 billion, below the anticipated $3.89 billion. Despite a 7% year-over-year decline in core EPS and a 5% drop in core operating profit, PepsiCo raised its full-year guidance, expecting low-single-digit organic revenue growth and a flat core EPS on a constant currency basis. The company also plans approximately $8.6 billion in shareholder returns for 2025. PepsiCo’s shares rose in pre-market trading following the earnings release, marking the 20th earnings beat in the past 21 quarters. Meanwhile, Coca-Cola reported Q2 earnings with a comparable EPS of $0.87, beating estimates of $0.83, and revenue of $12.5 billion, slightly below the $12.54 billion estimate. Coca-Cola’s organic revenue grew 5% year-over-year, with a forecast of 5-6% growth for the full year and an EPS outlook increase to 3%. AB InBev posted Q2 revenue of $15 billion, below the $15.35 billion estimate, with organic revenue growth of 3% and adjusted EBITDA growth of 6.5%. The brewer’s global beer volume declined 1.9%, contributing to a stock price drop. Despite this, net profit rose to $1.68 billion from $1.47 billion a year earlier, and adjusted profit increased to $1.95 billion. AB InBev maintained its full-year adjusted EBITDA growth guidance of 4% to 8%. The company cited weaker consumer spending in Brazil and China as factors behind the volume shortfall.