PepsiCo Inc (PEP.N) reported higher quarterly earnings on Thursday, helped by its acquisition of a Russian beverage company, but tempered its full-year outlook. The maker of Pepsi-Cola, Frito-Lay snacks and Quaker oatmeal said net income was $1.89 billion, or $1.17 per share, in the second quarter that ended on June 11, compared with $1.60 billion, or 98 cents per share, a year earlier. Net revenue jumped about 14 percent to $16.83 billion. The company said it now expects 2011 earnings to grow at a high single-digit rate, from the $4.13 per share it earned in 2010. The new forecast includes a 2 percentage point boost from foreign exchange rates. Its prior target, for growth of 7 percent to 8 percent, did not include that boost.
PepsiCo, Inc. (PepsiCo) is a global food, snack and beverage company. Shares of PEP remained unchanged at $68.49. In the past year, the shares have traded as low as $62.05 and as high as $71.89. On average, 6288000 shares of PEP exchange hands on a given day and today's volume is recorded at 300.
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