PepsiCo. Quarterly Sales, Core Earnings Surpass Expectations

PepsiCo. on Wednesday posted quarterly sales and earnings that outstripped Wall Street's forecasts. The food and beverage heavyweight said first-quarter net income was $1.32 billion, or 91 cents a share, compared with $931 million, or 64 cents a share, a year ago. Core earnings of 94 cents a share were above the FactSet estimate of 92 cents a share. PepsiCo.'s sales for the period came in at $12.05 billion, up from $11.86 billion in the year-ago period. Analysts expected $11.98 billion in sales.