PepsiCo. Quarterly Sales, Core Earnings Surpass Expectations

By Carla Mozee Markets MarketWatch Pulse

PepsiCo. on Wednesday posted quarterly sales and earnings that outstripped Wall Street's forecasts. The food and beverage heavyweight said first-quarter net income was $1.32 billion, or 91 cents a share, compared with $931 million, or 64 cents a share, a year ago. Core earnings of 94 cents a share were above the FactSet estimate of 92 cents a share. PepsiCo.'s sales for the period came in at $12.05 billion, up from $11.86 billion in the year-ago period. Analysts expected $11.98 billion in sales.

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