NEW YORK -- PepsiCo says its fourth-quarter net income rose 17 percent on higher prices and strength in Latin America.
The drink and snack maker's earnings and revenue beat analysts' estimates.
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The results mark the end of what CEO Indra Nooyi said would be a "transitional year," with the company embarking on a cost-cutting program and stepping up investment in its flagship brands. PepsiCo's brands include Frito-Lay, Gatorade and Quaker.
For the period that ended Dec. 29, PepsiCo Inc. earned $1.66 billion, or $1.06 per share. That's compared with $1.42 billion, or 89 cents per share, a year ago.
Excluding a pension charge and other items, earnings were $1.09 per share, topping analyst estimates of $1.05.
Revenue dipped 1 percent to $20 billion. Analysts expected $19.8 billion.
PepsiCo is based in Purchase, N.Y.