CHICAGO (Reuters) - PepsiCo Inc posted a bigger-than-expected quarterly profit on Wednesday helped by higher sales of its Frito-Lay snacks and improved sales in the company's international division.
The maker of Pepsi-Cola drinks, Tropicana juices and Gatorade sports drinks said second-quarter net income was $1.66 billion, or $1.06 a share, compared to $1.70 billion, or $1.05 a share, a year ago. The number of shares outstanding was lower in the most recent quarter.
Excluding one-time items, it earned $1.02 a share, two cents better than the average Wall Street forecast as compiled by Reuters Estimates.
The company did not discuss its unsolicited takeover bid for Pepsi Bottling Group Inc
Analysts expect PEPSICO (PEP.NY)to raise its bid, despite assurances from the company it would maintain a "disciplined approach" and signaled that it could walk away from its offer.
The company reaffirmed its full-year outlook, which calls for net revenue and core earnings per share to rise at a mid- to high-single-digit percent rate on a constant currency basis.
Shares were up 60 cents to $57 in thin premarket trading.
(Reporting by Ben Klayman; Editing by Derek Caney)
