Drink and snack maker PepsiCo has reported earnings and revenue that beat Wall Street estimates. Source: AAP
PEPSICO'S net income rose 17 per cent in the fourth quarter on higher prices and strength in Latin America.
The US-based drink and snack maker's earnings and revenue beat analysts' estimates.
It also provided a 2013 adjusted earnings forecast in line with Wall Street expectations and raised its quarterly dividend by 5.6 per cent.
The results mark the end of what CEO Indra Nooyi said would be a "transitional year", with the company embarking on a cost-cutting program and stepping up investment in its flagship brands. PepsiCo's brands include Frito-Lay, Gatorade and Quaker.
For the period ending December 29, PepsiCo Inc earned $US1.66 billion ($A1.61 billion), or $US1.06 per share. That's compared with $US1.42 billion, or 89 cents per share, a year ago.
Excluding a pension charge and other items, earnings were $US1.09 per share. Analysts surveyed by FactSet expected $US1.05 per share.
Revenue dipped one per cent to $US20 billion from $US20.2 billion, hurt in part by the stronger dollar and an extra week in last year's quarter. Still, the performance topped Wall Street's estimate of $US19.8 billion.
For the full year, PepsiCo earned $US6.18 billion, or $US3.92 per share. In the previous year the company earned $US6.44 billion, or $US4.03 per share.
Adjusted earnings were $US4.10 per share.
Annual revenue fell two per cent to $US65.49 billion from $US66.5 billion.
Looking ahead, the company said it foresees 2013 earnings rising seven per cent from 2012's adjusted earnings of $US4.10 per share. This implies $US4.39 per share, which is what analysts had predicted for the year.
PepsiCo said the quarterly dividend increase will begin in June.
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