Pepsi Releases 3rd Quarter Earnings ahead of analysts Estimates

The World’s second most popular soft drink manufacturing company Pepsi Co has announced better than expected third quarter results.

According to a survey by Thomson Reuters, analysts expected Pepsi to earn $1.30 a share on revenue of $17.11 billion.
Revenue grew by 13% to $17.58 billion from $15.51 billion a year ago, a figure way higher than analysts estimates.
Profits were driven by sales in the snack division, global expansion and the acquisition of Wimm-Bill-Dann, a beverage company based in Russia.

Net Income was up by 4% to $2 Billion or $1.25/share from $1.92 Billion or $1.19/share last year.

PepsiCo Chairman and CEO Indra Nooyi said, “We had strong revenue growth across our product portfolio and across our key geographic markets…We were able to achieve pricing to partially offset commodity cost inflation and at the same time stimulate consumer demand for our products.”

According to a leading financial analysis website Seeking Alpha,PepsiCo CFO Hugh Johnston recently told attendees at the Barclay’s Back to School Conference that emerging markets now account for more than 30% of total revenue, potentially mitigating some of the losses in North America and Europe.