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PepsiCo sales beat on higher demand for snacks, beverages

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PepsiCo sales beat on higher demand for snacks, beverages
FILE PHOTO: Cases of Pepsi are shown for sale at a store in Carlsbad, California, U.S., April 22, 2017. REUTERS/Mike Blake/File Photo   -   Copyright  Mike Blake(Reuters)
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(Reuters) – PepsiCo Inc beat Wall Street estimates for quarterly sales on Wednesday, as consumers bought more of its salty snacks, low-sugar sodas and other beverages.

Net income attributable to the company rose to $1.41 billion (£1.08 billion), or $1 per share, for the three months ended March 23 from $1.34 billion, or 94 cents per share, a year earlier.

Net revenue rose 2.6 percent to $12.88 billion. Analysts were expecting revenue of $12.70 billion, according to IBES data from Refinitiv.

Organic sales, a key metric that shows the health of Pepsi’s legacy brands and strips out impacts from currency fluctuations and acquisitions, rose 5.2 percent, recording its fastest pace of quarterly growth in more than three years, the company said

(Reporting by Nivedita Balu in Bengaluru; Editing by Anil D’Silva)

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