PepsiCo 1Q profit rises 5 percent on international growth

PURCHASE — PepsiCo says its first quarter profit rose 5 percent on a big revenue boost in its international division that helped offset higher commodity costs.

The world's second-largest soft drink maker says net income jumped to $1.15 billion, or 70 cents per share, from $1.10 billion, or 65 cents per share.

Thomson Financial says analysts' profit estimates matched the results.

Purchase, N.Y.-based PepsiCo Inc. says revenue climbed 13 percent to $8.33 billion from $7.35 billion. Analysts predicted revenue of $7.97 billion.

Revenue in the international division grew the most, rising 27 percent. The boost helped offset a 17 percent rise in cost of sales.

The company says it still expects profit of $3.72 per share for 2008. Analysts expect $3.73 per share.

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