Pepsico Inc.’s 1988 profit rose 28% to...
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Pepsico Inc.’s 1988 profit rose 28% to $762.2 million. The Purchase, N.Y.-based soft-drink, snack food and restaurant company noted improved results in all three of its segments. Revenue rose 14% to $13 billion. Contributing to the increases, the latest quarterly and annual reporting periods were longer than the preceding ones. The quarter had 17 weeks, compared to 16, and the year had 53 weeks, compared to 52. Besides Pepsi, the company’s holdings include Frito-Lay, Pizza Hut, Kentucky Fried Chicken and Taco Bell.
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