Filing Flows › PepsiCo (PEP) › Q2 2025
PepsiCo (PEP) Q2 2025 earnings results (second quarter 2025)
10-Q filed Jul 17, 2025
PepsiCo (PEP) reported revenue of $22.7B for the second quarter 2025 (Q2 2025), +1% from a year earlier and +27% from the quarter before. Operating margin was 7.9%, net earnings $1.3B (5.6% of revenue).
PepsiCo, Q2 2025: revenue $22.7B (+1% year over year), operating margin 7.9%, net earnings $1.3B. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $22.7B | +27% | +1% |
| Gross profit | $12.4B | +24% | -1% |
| Operating profit | $1.8B | -31% | -56% |
| Net earnings | $1.3B | -31% | -59% |
What changed
Revenue was $22.7B in Q2 2025, up 1% year over year and up 27% from the previous quarter.
Gross margin was 54.7%, down 1.3 points from a year earlier. Operating profit was $1.8B, a 7.9% margin (down 10.1 points year over year). Operating profit fell $2.3B even though revenue rose $0.23B versus a year earlier, so costs grew faster than sales. Operating expenses grew 25% against revenue growth of 1%. Net earnings were $1.3B, down 59% year over year. The effective tax rate was 18.6%.
Questions
What was PepsiCo's revenue in the second quarter 2025?
PepsiCo (PEP) reported revenue of $22.7B for the second quarter 2025 (Q2 2025), +1% from a year earlier and +27% from the quarter before.
Was PepsiCo profitable in the second quarter 2025?
Operating profit was $1.8B (7.9% of revenue) and net earnings $1.3B.
Source: PepsiCo 10-Q on SEC EDGAR.