Benzinga | Jul 13, 2021 11:12AM EDT

PepsiCo CFO Hugh Johnston Says Company Is Taking Market Share From Competitors

PepsiCo Inc (NASDAQ:PEP) Vice-Chairman and CFO Hugh Johnston discussed the company's financial results Tuesday on CNBC's "Squawk Box."

What Happened: PepsiCo reported quarterly earnings of $1.72 per share, which beat the estimate of $1.53 per share. The company reported quarterly revenue of $19.22 billion, which beat the estimate of $17.96 billion.

PepsiCo is pleased to report 13% earnings growth and 27% revenue growth, Johnston told CNBC.

"Squawk Box" host Rebecca Quick asked the PepsiCo CFO to provide insights on the "unbelievable" organic revenue growth of PepsiCo beverages in North America.

Johnston attributed the numbers to a combination of innovation in the beverage space and the reopening of the U.S.

PepsiCo's Mountain Dew Rise energy drink product and Mountain Dew major melon flavor have both done very well, he added.

The business is taking market share from its competitors, Johnston noted.

PEP Price Action: PepsiCo is making a new 52-week high in trading today.

At last check Friday, the stock was up 2.57% at $153.21.

Photo by Mike Mozart from Flickr.