Purchase, NY — PepsiCo, Inc.’s first quarter sales totaled $12.6 billion, up one percent from the same quarter in 2012, however, net income dropped four percent to $1.1 billion, resulting in a four percent decrease from last year in profits, totaling $1.7 billion.
PepsiCo Americas Foods sales totaled $5.1 billion, a five percent increase from the first quarter of 2012, led by an 11 percent increased in sales in the Latin America Foods division. Quaker Foods North America and Frito-Lay North America also saw moderate sales gains compared to the same quarter the year prior.
Strong sales in the region resulted in a six percent increase in operating profit for PepsiCo Foods North America, reaching $1.2 billion. Quaker was the only North American Foods division to see a drop in sales from the first quarter of 2012.
The company also reaffirmed its expectation to return approximately $3.4 billion in dividends throughout the year.