PepsiCo Reports First Quarter 2012 Earnings

PepsiCo today reported first quarter 2012 earnings of net revenue growth of 4% and reaffirmed its 2012 targets.

"Our first quarter results reflect the strength of our brands which allowed us to implement significant pricing actions," stated PepsiCo Chairman and CEO Indra Nooyi. "Effective pricing and packaging initiatives drove 5 percent constant currency net revenue growth, allowing us to substantially offset approximately $300 million in commodity cost inflation."

In the video below, PepsiCo's CFO Hugh Johnston elaborates on the earnings and reaffirms targets for 2012. He also shares how PepsiCo is making progress in implementing it strategy and building momentum through brand-building, innovation, execution and productivity initiatives.