PepsiCo Profit Tops Estimates as Frito-Lay Unit's Sales Gain
- Beverage maker maintains profit forecast for current year
- Domestic snack division sales rise 3 percent to $3.42 billion
This article is for subscribers only.
PepsiCo Inc. posted first-quarter profit that beat analysts’ estimates after strong sales of snacks in North America took the sting out of weaker results abroad.
Earnings were 89 cents a share, excluding some items, the Purchase, New York-based company said in a statement on Monday. Analysts estimated 81 cents, according to data compiled by Bloomberg. Sales fell 2.9 percent to $11.9 billion, matching analysts’ average projection.