PepsiCo profit beats; keeps full-year outlook
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PepsiCo Inc reported slightly better-than-expected quarterly earnings on Wednesday and affirmed its full-year target, helped by international growth and the acquisition of a Russian beverage company.
The maker of Pepsi-Cola, Lays potato chips and Quaker oatmeal said net income was $2.0 billion, or $1.25 per share in the third quarter, up from $1.92 billion, or $1.19 per share, a year earlier.
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Excluding items, earnings were $1.31 per share, topping analysts' average estimate by a penny, according to Thomson Reuters I/B/E/S.
Revenue climbed to $17.58 billion from $15.51 billion a year ago. Analysts on average were expecting $17.18 billion.
The company affirmed its 2011 target, calling for high single-digit earnings-per-share growth.
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