PURCHASE, N.Y. (AP) — Soft drinks and snack maker PepsiCo says its fiscal third-quarter profit rose 9 percent, partly on cost-control efforts.
The maker of Pepsi cola and Frito-Lay snacks earned $1.72 billion, or $1.09 per share, in the three months ended Sept. 5. That's up from the $1.58 billion, or 99 cents per share, a year ago.
Purchase, N.Y.-based PepsiCo Inc., which also sells the Gatorade and Tropicana brands, says revenue slipped 1 percent to $11.08 billion.
Analysts polled by Thomson Reuters forecast profit of $1.03 per share on revenue of $11.25 billion.
Costs fell faster than revenue. Selling, general and administrative expenses fell 8 percent to $3.65 billion.