Oct 2, 2018 - Economy & Business
PepsiCo's drinks business shines on Indra Nooyi's last day as CEO
- Courtenay Brown, author of Axios Macro
Photo: Joe Raedle via Getty Images
PepsiCo's North America beverage business rebounded Tuesday after reporting better-than-expected earnings and revenue in the company's most recent quarter as long-time CEO Indra Nooyi prepares to step down.
Why it matters: PepsiCo, which owns Frito-Lay, has been riding high on its snacks business while investing and diversifying its drinks unit as consumers shift away from sugary drinks. In August, PepsiCo announced plans to acquire carbonated water-maker, SodaStream.