April 26 PepsiCo Inc reported
higher-than-expected quarterly revenue and profit as the company
benefited from demand for its healthier drinks and snacks and
kept a tight leash on costs.
PepsiCo and other processed-food makers are investing
heavily to develop products to meet consumers' increasing
preference for healthier snacks such as unsweetened tea and
The company has said it now gets about 45 percent of its net
revenue from "guilt-free" products - beverages that have fewer
than 70 calories per 12 ounces and snacks that have lower
amounts of salt and saturated fat.
Revenue from its North America beverage business, the
company's biggest, rose 2.3 percent to $4.46 billion in the
first quarter ended March 25.
Net income attributable to PepsiCo rose to $1.32 billion, or
91 cents per share, in the quarter, from $931 million, or 64
cents per share, a year earlier.
The year-earlier period included a $373 million charge
related to its transaction with Tingyi (Cayman Islands) Holding
Excluding items, the company earned 94 cents per share.
Revenue rose 1.6 percent to $12.05 billion, the second
quarter of rising sales after eight quarters of decline.
Analysts on average had expected earnings of 92 cents per
share on revenue of $11.98 billion, according to Thomson Reuters
Rival Coca-Cola on Tuesday reported a
lower-than-expected quarterly profit on higher costs of
franchising its bottling operations and announced job cuts to
(Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by