PepsiCo Inc reported a higher-than-expected quarterly profit on Thursday, helped by increased sales volumes of snacks and beverages.
The maker of Pepsi-Cola and other sodas, Tropicana juices and Frito-Lay snacks said net income rose to $1.72 billion, or $1.09 per share, in the third quarter from $1.58 billion, or 99 cents per share, a year earlier.
Excluding items, PepsiCo earned $1.08 per share. Analysts on average were expecting $1.03, according to Thomson Reuters I/B/E/S.
Revenue fell 1.5 percent to $11.08 billion.
PepsiCo affirmed its 2009 outlook, calling for net revenue and core earnings per share to rise at a mid-to-high-single-digit percentage rate on a constant currency basis. Its 2008 core earnings were $3.68 per share.
For 2010, PepsiCo said it expected core earnings per share to grow 11 percent to 13 percent on a constant currency basis. (Reporting by Martinne Geller; Editing by Lisa Von Ahn)