Pepsi Just Won the First Quarter Battle With Coca-Cola
The company's cost cutting efforts continued to help pad the bottom line.
Continued cost cuts and a solid snacks food business led PepsiCo (PEP) - Get Report to win the battle with Coca-Cola (KO) - Get Report on who had a better first quarter.
The beverage and snacks giant reported on Wednesday that first quarter earnings, excluding one-time items, came in at 94 cents a share. Wall Street had expected 92 cents a share. Total revenue rose 2% from the prior year to $12.04 billion, beating analyst forecasts for $11.98 billion.
READ MORE: Pepsi Does the Complete Opposite of Coca-Cola, and Beats on Earnings
This article was written by a staff member of TheStreet.
