Pepsi Beat Earnings

Pepsi ($PEP) isn’t on my Buy List but it’s a stock I like a lot. The company has raised its dividend for the last 39 years in a row. Also, Pepsi is a lot more than soft drinks. Close to half of its sales come from snacks.

Pepsi just reported third-quarter earnings that were one penny better than expectations:

PepsiCo Inc., the world’s largest snack-food maker, reported a 4.1 percent rise in third-quarter profit, helped by price increases and sales of snacks in Latin America.

Net income advanced to $2 billion, or $1.25 a share, from $1.92 billion, or $1.19, a year earlier, Purchase, New York- based PepsiCo said today in a statement. Profit excluding some items totaled $1.31 a share, beating the $1.30 average of 14 analysts’ estimates compiled by Bloomberg.

Posted by Eddy Elfenbein on October 12th, 2011 at 9:53 am

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Tickers: PEP