Pepsi Bubbles Over in Q3, Beats Street on Top and Bottom Lines

Pepsi posted third quarter earnings of $1.36 a share on revenue of $17.22 billion. Wall Street analysts were looking for $1.29 on sales of $17.09 billion. Last year, Pepsi earned $1.24 per share on revenue of $16.91 billion. As for details, non-carbonated beverage volume in North America grew slightly and carbonated soft drink volume declined 1.5%. Latin America organic beverage volume increased 2.5%. Developing and emerging market organic revenue grew 8%. Meanwhile organic and reported net revenue increased 3% at Frito Lay North America. TheStreet's Gregg Greenberg has details from New York.