Dive Summary:
- Pepsi beat analysts' earnings estimates for the first quarter of 2013, boosted by slight price increases across their many products.
- Not counting the economic uncertainty stemming from Venezuela, the company posted higher earnings per share than this time last year.
- Their 2013 forecast, however, remains unchanged as CFO Hugh Johnston remains cautious in the tumultuous global environment.
From the article:
Despite the better first-quarter results, CFO Hugh Johnston told analysts not to increase their 2013 estimates. "The world remains a volatile place and we may also choose to incrementally invest in the long-term value building initiatives such as advertising, innovation and in emerging markets growth capacity."
