Shares of the large food and beverage company PepsiCo (NASDAQ: PEP) traded roughly 4.25% higher as of 12:51 p.m. ET today after the company reported better-than-expected earnings in the third quarter of the year and raised its guidance.

PepsiCo reported third-quarter earnings of $1.95 per share, which is $0.11 better than the consensus estimate for the quarter. Revenue of $21.97 billion also beat estimates, by $1.13 billion.

In an earnings statement, CEO Ramon Laguarta said, "Our strong results demonstrate that the investments we have made toward becoming an even Faster, even Stronger, and even Better company with pep+ at the center of everything we do are working."

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Source Fool.com