Pepsi profit pops 9 percent, despite weak beverage sales

Soft drinks and snack maker PepsiCo Inc. (PEP) said Thursday that its fiscal third-quarter profit rose 9 percent, in part on cost-control efforts, even as revenue dropped on weak beverage sales.

The maker of Pepsi cola and Frito-Lay snacks earned $1.72 billion, or $1.09 per share, in the three months ended Sept. 5. That's up from the $1.58 billion, or 99 cents per share, a year ago.