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PepsiCo profit rises as snacks sales rise

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(Globalpost/GlobalPost)

(Reuters) - PepsiCo Inc <PEP.N> on Thursday reported a higher quarterly profit, lifted by sales gains in its snacks business.

The maker of Pepsi-Cola, Frito-Lay snacks and Tropicana juice, said net income was $1.22 billion, or 79 cents per share, in the first quarter, up from $1.08 billion, or 69 cents per share a year earlier.

Revenue, excluding the impact of currency translation and changes to PepsiCo's business, rose 4 percent. Overall revenue was $12.62 billion, above the $12.43 billion Wall Street was expecting, according to Thomson Reuters I/B/E.S.

(Reporting by Phil Wahba in New York; Editing by Bernadette Baum)

http://www.globalpost.com/dispatch/news/thomson-reuters/140417/pepsico-profit-rises-snacks-sales-rise