Dive Brief:
- PepsiCo reported net income of $1.98 billion for the most-recent quarter, down slightly from the $2.01 billion seen a year earlier, but higher than analysts had forecast.
- The Purchase, NY-based company said global snack volume rose 1%, while global beverage sales climbed 3%.
- Revenue rose a half a percentage point to $16.89 billion.
Dive Insight:
Congratulations are due to Chief Executive Officer Indra Nooyi, who has turned in some impressive numbers given the sagging market in soda.
Condolences are due to Nelson Peltz, the activist investor who has become somewhat of a trouble for Nooyi and the PepsiCo board. PepsiCo's results can be read as evidence that Nooyi's plans for the company are working out just fine, despite all of Peltz's objections.