PepsiCo Inc's quarterly sales and profit beat Wall Street estimates on Wedn...
- PepsiCo Inc’s quarterly sales and profit beat Wall Street estimates on Wednesday, as the beverage maker’s advertising and marketing push helped drive sales of its snacks, sparkling waters and low-sugar sodas globally.
The results come as a boost for Chief Executive Officer Ramon Laguarta who took over from Indra Nooyi six months ago. Under his watch, Pepsico has spent more on advertising, raised production capacity, while tweaking its supply chain to focus more on healthier snacks and beverages. PepsiCo recently launched a new flavor of Cheetos under its Simply snack brand and introduced a blackberry and peach flavor for its bubly sparkling water that was promoted by singer Michael Buble.“It is clear evidence that the advertising that we’ve been putting into the market place is working ... may be most encouragingly the Pepsi business,” Johnston said.
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