updated 4/14/2005 8:12:59 AM ET 2005-04-14T12:12:59

PepsiCo Inc., the snack food and soft drink company, said Thursday that first-quarter earnings rose 13 percent, led by strong profit growth in its international operations, and raised its full year earnings forecast by a penny due to a favorable tax change.

PepsiCo, whose soft drink business is the second biggest after Coca-Cola Co., reported earnings of $912 million, or 53 cents per share, for the three months ended March 19, up from $804 million, or 46 cents per share, in the year-ago period.

Revenue for the quarter rose 7 percent to $6.59 billion from $6.13 billion a year ago. In addition to soft drinks, PepsiCo owns the snack food business Frito-Lay.

Wall Street had forecast earnings of 50 cents per share, according to 16 analysts surveyed by Thomson Financial. Revenue was expected to total about $6.47 billion.

PepsiCo expects to report 2005 earnings of at least $2.56, excluding the 53rd week in its fiscal year. Including the extra week, it forecast earnings of at least $2.60 per share.

In its previous financial forecast March 30, PepsiCo had estimated earnings of at least $2.55 excluding the 53rd week, and earnings of at least $2.59 per share including the extra week.

© 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Discussion comments


Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 3.79%
$30K home equity loan FICO 4.99%
$75K home equity loan FICO 4.69%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.83%
Cash Back Cards 17.80%
Rewards Cards 17.18%
Source: Bankrate.com