PepsiCo Profit Rises 13% on Frito-Lay Sales
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From Bloomberg News
PepsiCo Inc. said first-quarter earnings rose 13%, driven by lower expenses and increased sales at its Frito-Lay snack unit.
Net income climbed to $777 million, or 45 cents a share, from $689 million, or 38 cents, a year earlier. Sales rose 4.1% to $5.53 billion, PepsiCo said.
Shares of Purchase, N.Y.-based PepsiCo rose $2.64, or 6.6%, to $42.54 on the NYSE.
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