PEP: PepsiCo beats forecasts; shares rise in premarket
Shares of PepsiCo (PEP) climbed 65 cents, or .82 percent, in premarket trading Thursday morning after the Purchase-based soft drink maker posted first quarter earnings that beat analysts' forecasts.
PepsiCo posted earnings per share, excluding special items, of 77 cents, an increase of 12 percent versus the year-ago period.
Analysts surveyed by Thomson Reuters had predicted earnings of 71 cents per share.
Top companies, exec pay
| HV's largest employers
MORE: IBM unveils 'MobileFirst' business initiative | Top companies, exec pay
DATA: Top companies, exec pay | Largest employers | Map: Per capita income by county
The company reaffirmed forecasts for 7 percent core earnings growth in 2013 excluding the impact of currency fluctuations.
Net revenue increased 1 percent to $12.6 billion. Including special items, earnings per share decline 3 percent to 69 cents per share.