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PepsiCo reports 7.6% rise in quarterly profit
[BENGALURU] PepsiCo reported a 7.6 per cent rise in quarterly profit, helped by higher demand for its snacks sold under the Frito-Lay brand in North America as well as lower costs.
Revenue from Frito-Lay business rose 3.2 per cent. Total selling and general costs fell 0.7 per cent to US$5.87 billion.
However, sales in its North America beverage unit, the company's largest, fell 3.4 per cent to US$5.33 billion in the third quarter ended Sept 9, the maker of Gatorade and Diet Pepsi said on Wednesday.
While volume sales were down 6 per cent, net pricing was up one per cent.
Net income attributable to the company rose to US$2.14 billion, or US$1.49 per share, in the quarter, from US$1.99 billion, or US$1.37 per share, a year earlier.
Net revenue rose 1.3 per cent to US$16.24 billion.