PepsiCo: quarterly profit up on LatAm growth

(CercleFinance.com) - PepsiCo reported a higher quarterly profit on Tuesday, helped by its growth in Latin America, and stood by its full-year outlook.


The owner of the Frito-Lay and Quaker brands said second-quarter net income had risen to 2 billion dollars, or 1.44 dollar per share, from 1.82 billion dollars, or 1.28 dollar per share, a year earlier.

Revenue increased by 2.2% to 16.45 billion.

Excluding adverse foreign exchange translation that negatively impacted performance, organic revenue growth was 4.5% in the quarter, the group said.

In organic terms, volume rose 2 per cent in the snack business. In Latin America, organic revenue growth reached 10% in the past quarter.

The company also affirmed its full-year outlook, which calls for organic revenue growth to be 4 per cent.

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