The share price of Pepsi rose this morning (April 19th) on the back of the company revealing a strong set of financial results for the first quarter of 2013.
It was announced by the firm that its core operating margin expanded 80 basis points, while reported net revenue increased by one per cent, which the company explained reflects the impacts of foreign currency translation and structural changes.
Chairman and chief executive officer at Pepsi Indra Nooyi stated the company is "greatly encouraged" by the strong start to the year shown in the financial results, adding: "We delivered solid organic revenue growth and double-digit core EPS growth in the first quarter, driven by our balanced food and beverage product and global geographic portfolio."
Pepsi shares rose yesterday following the news of its strong performance between January and March and its stocks will open today trading at 81.25.
This is close to the 52-week high for the company of 83.45.
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