PepsiCo reports strong quarterly earnings, expects up to 13% growth

PepsiCo sees net income up, projects 13% profit growth this fiscal

The now world’s largest food and beverage company in the America’s has published [PDF] strong Q1 2010 earnings, while increasing growth projections in the coming years.

The company reported total gross sales of $9.37-billion in the quarter, up from the same period in 2009 from $8.26-billion.

Net income was $1.43-billion ($0.89 per share), up 13-percent (or up 11-percent with currency adjustments) to $1.14-billion in Q1 2009.

 Notably, the company also spent $735-million to buy-back equity this quarter to fund growth.

Pepsico owns and operates many popular worldwide brands, including Quaker, Tropicana, Frito Lay chips and the pepsi soft drink brand.

Company chief executive Indra Nooyi said in a statement today, “Our macrosnacks business gained share in key markets and we posted solid performance in beverages supported by the benefits of the acquisition of our two largest bottlers, growth in developing markets and improving top-line trends in North America.”

Pepsi said emerging markets such as Asia saw material gains in sales while Europe and North America had been essentially stagnant.

The company is expecting profits in 2009 to grow up 11 to 13-percent in the end of fiscal 2010.

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Peggy holds a Bachelor Arts degree with honors in Economics from York University in Toronto, Canada. She is a Certified Management Accountant (CMA). She has also passed Level I of the Chartered Financial Analyst (CFA) Program. She is also a realtor. Write to [email protected]
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