PepsiCo’s 3Q net income edges up, revenue soars

PepsiCo’s 3Q net income edges up, revenue soars

New York: PepsiCo says its third-quarter net income rose 12% on strong sales gains abroad and strength in its drinks and Frito-Lay snacks.

Pepsi says it earned $1.92 billion, or $1.19 per share, in the three months ending 4 September. That compares with $1.72 billion, or $1.09 per share, in the same period last year.

Revenue rose 40% to $15.51 billion on strong gains abroad and acquisition of its largest bottlers earlier this year.

Analysts polled by Thomson Reuters expected the company to earn $1.22 per share on revenue of $15.38 billion.

The company bought out its two biggest North American bottlers for $7.8 billion earlier this year so it could better control distribution and bring products to market more quickly.

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