Pepsi Meets Analyst Expectations

PepsiCo (PEP Quote) reported 13% earnings growth in its third quarter as revenue rose across the company's major segments.

For the third quarter, the snack food and soft-drink maker reported earnings of $1.08 billion, or 62 cents a share, up from $953 million, or 53 cents a share, in the year-ago period. Profit matched analysts' estimates for the quarter.

Total revenue climbed 8.4% to $6.83 billion, compared with $6.12 billion a year earlier. Frito-Lay's sales rose 7% to $2.21 billion, and Pepsi's North American beverages unit saw its top line increase 6% to $2.08 billion, while revenue at Pepsi's international operation climbed 12% to $2.19 billion.

Pepsi said it's on track to report earnings of $2.19 a share for the full year, which is at the high end of analyst forecasts.