PepsiCo has reported that second-quarter revenues increased 9%, led by double-digit growth at PepsiCo International and Quaker Foods North America and solid performance in North American beverage and snacks units.
Net revenue totaled $7.69 billion, a 9% jump from $7.07 billion one year ago, the company said.
By division, revenue at Frito-Lay North America grew 6% to $2.37 billion with strong performance of Lay’s Cheetos, Tostitos and Quaker snacks. PepsiCo Beverages North America saw a revenue lift of 4% to $2.22 billion and a slight decline in volume. Non-carbonated beverage volume grew 5% fueled by double-digit growth in Aquafina and Propel fitness water and low-single-digit growth in Gatorade. Carbonated soft drinks volume fell off 4%. PepsiCo International revenue jumped 15% to $2.76 billion.
Quaker Foods North America gained 16% in the quarter to $350 million from $303 million one year ago. Quaker oatmeal, Rice-A-Roni and Pasta Roni side dishes and Aunt Jemima syrup saw double-digit volume growth.
For the 24 weeks ended June 12, net revenues were $14.3 billion.
“We are very pleased with our performance for the quarter and first half of the year,” said Chairman and CEO Steve Reinemund in a statement. “Our portfolio of operating businesses delivered another quarter of very strong top line and bottom line results, giving us added confidence in our ability to meet the business and financial objectives we’ve laid out for 2005.”
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