Net profit of American PepsiCo (NASDAQ:PEP) Inc., one of the world’s largest producers of soft drinks, increased by 11.8% in the second quarter of 2019. – up to $2,035 billion, or $1.44 per share, compared to $1.820 billion, or $1.28 per share, a year earlier.

Excluding balance sheet items, PepsiCo’s earnings were $1,54 per share, while analysts polled by Bloomberg had expected $1,50 per share.

Revenue in the second quarter ended June 15 increased 2,2% to $16,449 billion, compared with $16.090 billion in the same period a year earlier.

Organic revenue growth (excluding exchange rate differences, as well as acquisitions and sales of assets) amounted to 4,5% and was noted in all business segments of the company.

Frito-Lay North America’s (FLNA) snacking business posted organic revenue growth of 5% in the second quarter, Quaker Foods’ organic revenue growth was 3%, and its beverage business’ organic revenue growth was 2%. In Latin America, revenue grew by 10% organically, in Europe and Central and Southern Africa by 5%, and in Asia, the Middle East and North Africa by 5%.

The company reiterated its 2019 guidance, which expects revenue to grow 4% organically and expects adjusted earnings per share to decline 1%.