PepsiCo, Inc. (PEP) reported that its first quarter core operating profit improved 7 percent and core constant currency earnings per share rose 14 percent year-on-year, which reflects the benefits of the company's ongoing efforts to tightly control costs
through cost management program and a mark-to-market gain on an equity investment. PepsiCo delivered an organic revenue growth of 2.4 percent for the quarter. The company's global snacks and foods business delivered mid-single-digit organic revenue growth while global beverages business delivered low-single-digit organic revenue growth. Based on the first quarter results, the company is confident in delivering on financial guidance for the full year.
First quarter core earnings per share was $1.21 compared to $1.07, prior year. On average, 19 analysts polled by Thomson Reuters expected the company to report profit per share of $1.12, for the quarter. Analysts' estimates typically exclude special items.
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