“PepsiCo Inc., the world’s largest snack-food maker, said fourth-quarter profit rose 17 percent after boosting spending to market its 12 biggest brands.
Net income increased to $1.66 billion, or $1.06 a share, from $1.42 billion, or 89 cents, a year earlier, the Purchase, New York-based company said today in a statement. Profit excluding some items totaled $1.09 a share. Analysts had projected $1.05, the average of estimates compiled by Bloomberg.
Chief Executive Officer Indra Nooyi has increased marketing to boost sales of brands such as Lay’s, Mountain Dew and Gatorade. Nooyi has also put renewed focus on U.S. soft drinks, including its flagship Pepsi-Cola, to revive lagging beverage sales and regain market share from Coca-Cola Co.…”
If you enjoy the content at iBankCoin, please follow us on Twitter
