PepsiCo Inc.'s increasing sales from their snacks and drink markets assisted in Pepsi’s first-quarter profits to soar 26 percent. Pepsi Co Inc. trades on the “New York Stock Exchange” under the stock symbol “PEP”.
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PepsiCo Inc.'s (NYSE:PEP) increasing sales from their snacks and drink markets assisted in Pepsi’s first-quarter profits to soar 26 percent, topping analyst expectations. The Company stated on Thursday that Frito-Lay snacks sales increased to some extent, while sales of snacks and beverages posted double-digit gains. For the first three months of the year, PepsiCo earned $1.43 billion, or 89 cents per share. Analysts expected earnings of 75 cents a share. Revenue climbed 13 percent to $9.37 billion, while the volume of products sold rose 1 percent. Pepsi said volume slipped 4 percent for its North American beverages in the quarter, but revenue rose by 32 percent and profits by nearly that much because of the acquisitions and focusing on selling more profitable products. Profit in the company's North American beverages improved partly because of the company's purchase of its bottlers in the quarter. The goal of the deal is to control distribution, which is key for drink makers because it means less time to put drinks on shelves to keep up with changing shopper tastes.
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