Pepsico Inc. reported a 14.4% increase in...

Pepsico Inc. reported a 14.4% increase in third-quarter earnings over last year’s like period. The Purchase, N.Y.-based soft-drink, restaurant and snack food company cited strong sales in all business segments, a reduced tax rate stemming from lower effective foreign tax rates and a smaller number of outstanding shares because of a 4.7-million-share stock repurchase completed in the third quarter for the improved profits.