PepsiCo Profit Climbs 14% on Gatorade, Lipton
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PepsiCo Inc. reported the biggest profit gain in almost two years and boosted its annual earnings forecast on sales of Gatorade and Lipton iced tea.
Second-quarter net income jumped 14% to $1.36 billion, or 80 cents a share.
Sales rose 12% to $8.6 billion, PepsiCo said. That’s double the average over the last five years and faster than growth at rival Coca-Cola Co.
PepsiCo raised its full-year profit forecast to at least $2.95 a share, from $2.93. The average estimate by analysts surveyed by Thomson Financial was $2.96.
Shares of Purchase, N.Y.-based PepsiCo gained 97 cents, or 1.6%, to $62.07.
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