REUTERS/Mario Anzuoni/File Photo (Reuters)
PepsiCo reported third-quarter earnings and revenue above Wall Street estimates on Tuesday, helped by strength in the Latin American market.
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Net income attributable to the company rose to $2.50 billion, or $1.75 per share, from $2.14 billion, or $1.49 per share, a year earlier.
PepsiCo’s adjusted profit was $1.59, which beat the estimate for $1.57.
Net revenue rose 1.5 percent to $16.49 billion, also topping the estimate for $16.36 billion.
The company’s Frito-Lay unit reported a 3 percent increase in revenue to $3.89 billion.
Indra Nooyi, the first female CEO at the company will retire on Wednesday after 12 years at the helm.
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Nooyi stressed the importance of shifting Pepsi towards healthier snack foods during her tenure, saying it was important for the company’s future, as she worked to evolve its Frito-Lay unit, maker of Doritos and Lay’s potato chips.
