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.
This article was written by a staff member of TheStreet.