PepsiCo's stock surges toward record high after profit, revenue beat
Shares of PepsiCo Inc. PEP, -1.01% surged 2.1% toward a record high in premarket trade Wednesday, after the beverage and snack giant reported first-quarter profit and revenue that rose above expectations, including beats in its North America Frito-Lay and beverages business. Net income rose to $1.41 billion, or $1.00 a share, from $1.34 billion,or 94 cents a share, in the same period a year ago.
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