NEW YORK (Reuters) -- PepsiCo Inc. said Thursday quarterly net profit rose a better-than-expected 71 percent, boosted by non-carbonated beverages including Gatorade sports drinks and Lipton Iced Tea and growth in international markets such as Russia and China.
Analysts on average were expecting the company, based in Purchase, N.
Y., to earn 87 cents per share, excluding items, according to Reuters Estimates.
The diverse portfolio of PepsiCo, which owns Frito-Lay snacks and Quaker cereals, has helped it endure a growing health consciousness in many of its developed markets.
That consciousness has led many consumers away from sugary soft drinks to diet versions or healthier drinks like water and orange juice.
Pepsi's net revenue rose 9.4 percent to $8.
95 billion from $8.18 billion a year ago.
The company, which is about two weeks into the tenure of Chief Executive Indra Nooyi, raised its full-year outlook to earnings per share of at least $2.
98, from its prior forecast of $2.95 per share.
So far in 2006 ( ) stock has risen 8 percent, in line with the S P 500 Index and trades at 21 times expected 2006 earnings.
Shares of the No. 1 soft drink maker ( ) have risen 9 percent and have a price-to-earnings ratio of 19.
Shares at competitor ( ) nudged higher Thursday to $41.
37 off a 12-month high of $43.45 Sept. 27, while ( ) closed slightly lower.
News RSS