growing dominance of the soft-drink and snack space continued in the second quarter, when earnings jumped 12% from a year ago, thanks to strong worldwide volume of higher-margin products, particularly at Quaker Foods.
Pepsi earned $1.19 billion, or 70 cents a share, in the quarter, compared with $1.06 billion, or 61 cents a share, a year ago. Revenue rose 9% from a year ago to $7.70 billion.
Analysts surveyed by Thomson First Call had been forecasting earnings of 67 cents a share on revenue of $7.56 billion.
Among its divisions, Frito Lay North America reported a 2% jump in volume from the second quarter of 2004 and a 6% jump in revenue. PepsiCo Beverages North America reported a 0.5% decline in volume and a 4% jump in revenue. Pepsi International had 3% volume growth in snacks, a 9% volume growth in beverages and a 15% jump in revenue. Quaker Foods North America had 12% volume growth and 16% revenue growth.
For the full year, Pepsi forecast earnings of $2.56 to $2.59 a share. The Thomson First Call consensus estimate is $2.58 a share.