PepsiCo reported higher quarterly earnings on Wednesday and said it was on track to meet its financial goals for the year, despite a sluggish economy.
The maker of Pepsi-Cola, Frito-Lay snacks, and Tropicana juice said net income was $1.91 billion, or $1.23 per share, in the third quarter, up less than 1 percent from $1.90 billion, or $1.21 per share, a year earlier.
Excluding items, earnings were $1.24 per share. On that basis, analysts were expecting $1.17, according to Thomson Reuters I/B/E/S.
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Shares of PepsiCo were up 1.1 percent at $81.50 in trading before the market opened.
Speaking on Bloomberg Television on Tuesday morning, PepsiCo Chief Financial Officer Hugh Johnston said the company had delivered a "good quarter" and that its global beverage business was "largely in line with what the competition was doing."