PepsiCo Q2 net rises to $2.01 billion, boosted by Frito-Lay
08 Jul 2016
Soft-drinks and snacks giant PepsiCo Inc reported slightly better-than-expected quarterly revenue, boosted 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 ended 11 June, from $1.98 billion, or $1.33 per share, a year earlier.
On an adjusted basis, profits for the beverage giant came in at $1.35 a share.
Net revenue, however, fell 3.3 per cent to $15.395 billion.
Net revenue in the North America Beverages unit, the company's biggest business, rose 1 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 3 per cent. New snacks launched under the Simply brand included Simply Tostitos black bean chips and Simply Tostitos organic chunky medium salsa.
