PepsiCo Inc. (PEP) posted a 13% rise in fiscal second-quarter profit a
nd raised its full-year earnings outlook, reflecting continued strength from its Frito-Lay snacks business and its international businesses.
"Our strong performance in the first half demonstrates the health of the business and supports our balance-of-year outlook," PepsiCo Chairman and Chief Executive Indra Nooyi said.
A lower tax rate also helped results in the latest second quarter.
The world's second-largest soft-drink company, which also sells Frito-Lay chips, Gatorade sports drinks and Quaker oatmeal, reported net income of $1.56 billion, or 94 cents a share, for the 12 weeks ended June 16, up from $1.38 billion, or 81 cents a share, for the 12 weeks ended June 17, 2006.
Analysts polled by Thomson Financial had expected the Purchase, N.Y., company to post earnings of 89 cents a share.
Net revenue in the latest quarter rose 10% to $9.61 billion, ahead of the mean Street view of $9.38 billion.
US Market Closed nd raised its full-year earnings outlook, reflecting continued strength from its Frito-Lay snacks business and its international businesses."Our strong performance in the first half demonstrates the health of the business and supports our balance-of-year outlook," PepsiCo Chairman and Chief Executive Indra Nooyi said.
A lower tax rate also helped results in the latest second quarter.
The world's second-largest soft-drink company, which also sells Frito-Lay chips, Gatorade sports drinks and Quaker oatmeal, reported net income of $1.56 billion, or 94 cents a share, for the 12 weeks ended June 16, up from $1.38 billion, or 81 cents a share, for the 12 weeks ended June 17, 2006.
Analysts polled by Thomson Financial had expected the Purchase, N.Y., company to post earnings of 89 cents a share.
Net revenue in the latest quarter rose 10% to $9.61 billion, ahead of the mean Street view of $9.38 billion.
For the latest quarter, revenue at Frito-Lay North America rose 6% to $2.72 billion, led by double-digit percentage growth in Doritos, SunChips, multipacks, dips and Quaker rice snacks. Volume growth was 3%. Read more this articles.... or visit http://www.nasdaq.com
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