PURCHASE, N.Y. (AP) _ PepsiCo Inc. (PEP) on Monday reported second-quarter earnings of $1.65 billion.

On a per-share basis, the Purchase, New York-based company said it had profit of $1.18. Earnings, adjusted for one-time gains and costs, were $1.32 per share.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.25 per share.

The food and beverage company posted revenue of $15.95 billion in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $15.54 billion.

PepsiCo shares have dropped nearly 2% since the beginning of the year, while the Standard & Poor's 500 index has declined slightly more than 1%. The stock has increased slightly in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PEP at https://www.zacks.com/ap/PEP

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