PepsiCo books solid second quarter

PURCHASE, N.Y. - PepsiCo (PEP) put up strong second-quarter numbers that topped most expectations despite economic strife that has driven the value of currencies in Latin America and Europe lower.

The drink and snack company boosted its full-year profit forecast as well Thursday and shares jumped 3 percent before the opening bell.

For the period ended June 13, PepsiCo earned $1.98 billion, or $1.33 per share, compared with $1.98 billion, or $1.29 per share, last year.

Excluding one-time charges and benefits, earnings were $1.32 per share, which easily topped the $1.23 expected on Wall Street, according to analysts surveyed by Zacks Investment Research.

Revenue fell to $15.92 billion from $16.89 billion, stung by foreign currency translation. But PepsiCo beat analyst expectations there, too, as price hikes stuck.

Sales for Frito-Lay North America climbed 2 percent, while PepsiCo Americas Beverages sales edged up 1 percent.

PepsiCo Inc., based in Purchase, New York, now anticipates full-year earnings per share to climb 8 percent, on a constant currency basis. Its prior guidance was for a 7 percent increase.