UPDATE: PepsiCo Q2 Profit Surges 35%

PepsiCo

reported a 35% rise in its second-quarter earnings. PepsiCo's quarterly profit surged to $2.01 billion, or $1.28 per share, from $1.49 billion, or $0.94 per share, in the year-ago period. Excluding one-time items, its core earnings gained to $1.31 per share from $1.12 per share. Its revenue jumped 2.1% to $16.81 billion. However, analysts were expecting earnings of $1.19 per share on revenue of $16.79 billion. Its operating margin widened to 17.1% from 14.4%. PepsiCo shares closed at $86.20 yesterday.