PURCHASE, NY -- PepsiCo's second-quarter revenue jumped 40% to $14.8 billion, driven largely by acquisitions of its anchor bottlers (see story). But the snack and soda giant's quarterly profit slumped 3% to $1.6 billion, due mostly to the restructuring costs related to those acquisitions.
PepsiCo America's Beverages net revenue more than doubled during the quarter ended June 12 to $5.55 million from $2.62 million in the comparable period of 2009. Improvement in organic volume growth was driven by the successful launch of Gatorade's G Series and Lipton ready-to-drink teas.
Frito-Lay's net revenue grew 2% to $3.2 million from $3.14 million a year earlier. The company attributed low-single-digit growth in salty snacks to improved trends in the convenience store, vending and foodservice channels.
Quaker Foods' net revenue was $379 million in the second quarter, compared with $396 million in 2009's quarter, a 4% decline resulting from slower sales of ready-to-eat cereals.
For fiscal 2010, the company is targeting 10% to 12% earnings per share growth over its fiscal 2009 EPS of $3.71.