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PepsiCo's quarterly profit surges 41.6 pct
April 26, 2017 / 10:12 AM / 8 months ago

PepsiCo's quarterly profit surges 41.6 pct

April 26 (Reuters) - PepsiCo Inc reported a 41.6 percent jump in quarterly profit, helped by higher demand for its healthier drinks and snacks and as the company kept a tight leash on costs.

Net income attributable to PepsiCo rose to $1.32 billion, or 91 cents per share, in the first quarter ended March 25 from $931 million, or 64 cents per share, a year earlier.

The company recorded a $373 million charge related to its transaction with Tingyi (Cayman Islands) Holding Corp in the year-earlier period.

Revenue rose 1.6 percent to $12.05 billion, the second quarter of rising sales after eight quarters of decline.

PepsiCo and other processed-food makers are investing heavily to develop products to meet the changing tastes of consumers, who are increasingly seeking healthier options.

Reporting by Sruthi Ramakrishnan in Bengaluru; Editing by Sriraj Kalluvila

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