Excerpt from our One Page Annotated Wall Street Journal Summary (receive it by email every morning by signing up here):
Noncarbonated Drinks, Snacks Lift PepsiCo Profit by 14%
Summary: PepsiCo (NYSE:PEP) reported a 14% rise in second quarter profit, beating analyst estimates on both revenue ($8.6 billion actual vs. $8.3 billion) and earnings (80 cents/share actual vs. 77 cents/share). Strength in noncarbonated drinks, its Frito-Lay snacks unit, and international operations drove the strong growth. The company also raised its earnings outlook for the year to 'at least $2.95 a share'.
Comment on related stocks/ETFs: In trading before the bell this morning, Pepsi was up about 1%.