PepsiCo Inc.'s (NYSE: PEP) first quarter profit rose16% due to the strength of its international beverage division as well as solid growth in the Frito-Lay snacks division. First-quarter revenue of $7.35 billion provided a healthy profit of $1.1 billion for the quarter, up from $6.72 billion and $947 million respectively for the year-ago quarter.PepsiCo's management reaffirmed guidance for the full year at $3.30 EPS, a tad under consensus analyst estimates of $3.32 EPS. The second-largest beverage maker in the world behind Coca-Cola Co. (NYSE: KO) witnessed its international beverage revenue climb in the first quarter while rose by 29%. The Texas-based Frito-Lay division saw a 7% gain in profit for the first quarter as well.
Stay tuned to BloggingStocks this morning at 11:00am PDT as I'll be liveblogging the Q1 conference call right here. The best parts (most of the time) are deep analyst questions at the end of the call (during the Q&A), so I hope you'll join me here in about two hours.
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