first-quarter earnings jumped 13% from a year ago, boosted by emerging market snack and beverage growth.
The soda and chips company earned $912 million, or 53 cents a share, in the quarter, compared with $804 million, or 46 cents a share, last year. Revenue was $6.59 billion in the latest period compared with $6.13 billion a year ago. Analysts had been forecasting earnings of 50 cents a share on revenue of $6.47 billion.
PepsiCo guided full-year earnings to $2.56 a share, matching the Thomson First Call consensus.
By segment, Pepsi said its North American beverage division saw 1.5% volume growth in the quarter, reflecting an 8% jump in noncarbonated drinks and a 1% decline in carbonated drinks. Revenue grew 6% from a year ago at Frito-Lay North America, reflecting balanced growth among Lay's, Doritos, Tostitos and Cheetos.
In the international unit, snack volume rose 4% from a year ago, reflecting double-digit growth in Egypt, Turkey, India, China, Russia and Brazil. Beverage volume growth was 9%, driven by strong results in the Middle East and other emerging markets.
PepsiCo shares closed last night at $53.63, about $2 below its 52-week high.