)
PepsiCo Inc reported higher-than-expected quarterly earnings on Wednesday, as price increases and productivity improvements helped margins.
The maker of Pepsi-Cola, Frito-Lay snacks and Tropicana juice, which is under pressure by activist investor Nelson Peltz, said net income was $2.01 billion, or $1.28 per share in the second quarter, up from $1.49 billion, or 94 cents per share a year earlier.
Excluding items, earnings were $1.31 per share. On that basis, analysts on average were expecting $1.19 per share, according to Thomson Reuters.
