Giant Soda manufacturer, PepsiCo Inc (PEP.N) reported a better-than-expected quarterly profit on Tuesday, buoyed by higher pricing of its sodas and snack foods sold in North America and the sale of its minority stake in British bottler Britvic Plc (BVIC.L).
Revenue in PepsiCo’s North America beverage business, the company’s biggest, rose 2 percent to $5.24 billion in the second quarter ended June 17. While volume sales were flat, net pricing was up 1 percent, the company said.
Revenue from its Frito-Lay North America business rose 3 percent, helped by a 1 percent rise in volume and 3 percent rise in net pricing.
PepsiCo and rival Coca-Cola Co (KO.N) have focused on selling smaller, higher-margin packs in developed markets while pulling back on promoting large discount packs as they look to cushion the impact of falling demand for fizzy drinks.
PepsiCo said in May it would sell its 4.5 percent stake in British bottler Britvic for an undisclosed amount.
Net income attributable to PepsiCo rose to $2.11 billion, or $1.46 per share, from $2.01 billion, or $1.38 per share, a year earlier. Revenue rose 2.1 percent to $15.71 billion.
Analysts on average had expected earnings of $1.40 per share on revenue of $15.60 billion, according to Thomson Reuters.