PepsiCo profit rises 5% on higher snack sales

PepsiCo Inc reported a 5 percent jump in quarterly profit, helped by strong sales of Frito-Lay chips in the Americas and cost-cutting measures.

Reuters| Updated: Feb 13, 2014, 19:20 PM IST

Bangalore: PepsiCo Inc reported a 5 percent jump in quarterly profit, helped by strong sales of Frito-Lay chips in the Americas and cost-cutting measures.

The maker of Pepsi-Cola, Quaker Oats and Tropicana juice said net income attributable to PepsiCo rose to USD 1.75 billion, or USD 1.12 per share, in the fourth quarter ended December 28, from USD 1.66 billion, or USD 1.06 per share, a year earlier.

Excluding items, earnings were USD 1.05 per share.

Revenue rose marginally to USD 20.11 billion.

The company also said it would raise its annual dividend by 15 percent to USD 2.62 per share.