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PepsiCo Quarterly Earnings Beat Expectations

PepsiCo Inc reported higher-than-expected quarterly earnings on Wednesday, as sales of Frito-Lay snacks, Quaker Oats and other food products grew at a faster pace than its beverage business. Even so, the company said it is staying with its full-year profit outlook, reaffirming an earlier forecast for 7 percent growth. It said it was taking a conservative view because of the potential impact of global volatility and possible increases in spending on advertising and research and development. (Reuters)