PepsiCo 3rd-Quarter Net Income Rises 55%

PepsiCo Inc.’s third-quarter profit climbed 55% as the company boosted sales of Frito-Lay snack foods and cut costs.

Net income increased to $969 million, or 54 cents a share, PepsiCo said, as revenue rose 6.6% to $6.38 billion.

PepsiCo shares rose $5.32, or 15%, to $41.10 on the New York Stock Exchange. The stock had declined 27% this year because of concerns about Frito-Lay’s sluggish growth. No. 1 soft-drink maker Coca-Cola Co. had increased 6.3%.