PepsiCo Beats Estimates Citing Strong International Growth

International growth helped buoy PepsiCo Inc.’s second quarter earnings, as the snacks and beverage giant said it plans to lean into higher-protein offerings and smaller portion sizes.

The company, which owns the Gatorade, Lipton and Quaker brands, reported organic sales growth of 2.1% in the second quarter ended June 14, outpacing the average analyst estimate. Earnings per share were $2.12, also higher than market expectations. PepsiCo also maintained its annual outlook.