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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 PepsiCo, Inc. Report to win the battle with Coca-Cola (KO) - Get Coca-Cola Company 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

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This article was written by a staff member of TheStreet.