UPDATE: PepsiCo Posts Better-Than-Expected Q1 Profit

PepsiCo

reported a 13% rise in its first-quarter profit. PepsiCo's quarterly profit jumped to $1.22 billion, or $0.79 per share, versus $1.08 billion, or $0.69 per share, in the year-ago period. Its adjusted earnings came in at $0.83 per share. Its revenue rose to $12.62 billion versus $12.58 billion. However, analysts were estimating earnings of $0.75 per share on revenue of $12.39 billion. PepsiCo shares gained 2.11% to $86.56 in pre-market trading.