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Thanks to new products, PepsiCo crosses revenue targets

Net income attributable to PepsiCo rose to $2.01 billion, or $1.38 per share, in the second quarter which ended on June 11. Photograph: (Getty)

Reuters New Delhi Jul 07, 2016, 11.34 AM (IST)
PepsiCo Inc reported slightly better-than-expected quarterly revenue, helped by strong demand for Frito-Lay snacks and new beverages in North America.

New drinks such as Propel flavoured water and Naked Cold Pressed juice, and snacks under its "Simply" brand helped drive sales, the company said.

Net income attributable to PepsiCo rose to $2.01 billion, or $1.38 per share, in the second quarter which ended on June 11, from $1.98 billion, or $1.33 per share, a year earlier.

Net revenue fell 3.3 per cent to $15.395 billion, slightly beating the average analyst estimate of $15.37 billion, according to Thomson Reuters Institutional Brokers' Estimate System.

Net revenue in the North America Beverages unit, the company's biggest business, rose one per cent – the slowest growth since the company started breaking out beverage sales from the region a year ago.

Revenue from the Frito-Lay business, which includes Doritos, Lay's and the Simply line of snacks, rose three per cent. New snacks launched under the Simply brand included Simply Tostitos black bean chips and Simply Tostitos organic chunky medium salsa.

(Reuters)
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