Solid Snack, Soda Sales for Pepsi - TheStreet

Solid Snack, Soda Sales for Pepsi

The company's earnings in the second quarter match estimates.
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(PEP) - Get Report

reported double-digit earnings growth for the second quarter, and profits matched analysts' estimates, as revenue rose across the company's major segments.

For the second quarter, the snack food and soft drink maker reported earnings of $1 billion, or 58 cents a share, up from $875 million, or 48 cents a share, in the year-ago period.

Revenue totaled $6.54 billion, compared with $6.12 billion a year earlier. Frito-Lay's sales rose 6% to $2.15 billion. Pepsi's North American beverages unit saw its top line increase 7% to $1.96 billion, while revenue at Pepsi's international operation climbed 10% to $2.12 billion.

Volume continued to be solid, with total servings of products sold worldwide up 5% in the second quarter. Snack volume worldwide increased 4%, and global servings of beverages rose more than 5%.

Pepsi said it's on track to report earnings of $2.16 to $2.19 a share for the full year including about 3 cents of merger costs. Analysts polled by Thomson First Call are expecting a profit of $2.20. For the second quarter, analysts were expecting 58 cents.