showed some fizz this morning, reporting an increase in fourth-quarter earnings, matching analysts' expectations, and maintaining its double-digit earnings growth expectations for 2001.
The Purchase, N.Y.-based soft drink and snack food company earned $567 million, or 38 cents a share, up from $494 million, or 33 cents a share, in the same period last year. Fifteen analysts polled by
First Call/Thomson Financial
expected earnings per share of 38 cents for the quarter.
Revenue rose to $6.12 billion from $5.68 billion a year ago.
PepsiCo said it expects "consistently healthy results to continue throughout 2001." On Jan. 8 the company said it was confident of attaining its target of 12% to 13% growth for 2001. Analysts on average see earnings of $1.64 a share for 2001, compared with $1.45 a share in 2000.
Shares of the company closed at $44.99 in Friday trading on the
New York Stock Exchange
. The shares have a 52-week low of $29.69 and a 52-week high of $49.94.