Lowering the price of its snacks has resulted in a boost for PepsiCo, according to a CNBC report.
PepsiCo reported positive earnings on Thursday with revenue exceeding analyst expectations.
The company reported volume growth and shares rose 2% in the afternoon.
Earnings per share were $1.61 versus the $1.55 expected, and revenue was at $19.44 billion versus the $18.94 billion expected.
Pepsi posted first-quarter net income of $2.33 billion, up from $1.83 billion a year earlier.
Sales were also boosted thanks to the acquisition of Poppi, Alani Nu energy drink and the divestiture of Rockstar.
Pepsi’s North American food business reported an increase in volume for the first time in just over two years.
Pepsi cut prices on Lay’s, Tostitos, Doritos and Cheetos by as much as 15%.
