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Bloomberg
PepsiCo Inc reported quarterly profit that beat estimates with brands including Mountain Dew soda and Doritos chips boosting results.
Second-quarter earnings, excluding some items, amounted to $1.54 a share, compared with projections of $1.50. Revenue of $16.44 billion was narrowly ahead of estimates.
PepsiCo has boosted its marketing spending as it tries to drive growth in an increasingly competitive food-and-beverage market, particularly in the US. As soda consumption declines, the battle for beverage dollars is heating up again with long-time rival Coca-Cola Co.