PepsiCo (PEP) reports it delivered 4% or better organic revenue growth in every business unit during Q1.
Organic revenue growth in developing and emerging markets was 9% during the quarter.
Soft drink volume in North America was down 1%, while non-carbonated beverage volume was up 2%.
The company's gross margin rate rose 40 bps on productivity gains. PepsiCo says it's still on track to deliver $1B in productivity gains this year.
PEP +1.3% premarket