PepsiCo reported first-quarter earnings per share of $0.70. The company delivered strong operating results with 13% net revenue and 10% division operating profit growth.
In the Middle East/Africa/Asia (MEAA) segment, snack volume grew 15%, led by double-digit growth across China, South Africa, the Middle East and India.
In beverages, 11% volume growth in the MEAA segment reflected broad-based growth led by double-digit growth in China and the Middle East.
For 2008, the Company expects 3% to 5% volume growth, high-single-digit net revenue growth and EPS of at least $3.72.
The company expects 9% to 10% total worldwide commodity cost inflation.
