Higher prices lift PepsiCo’s profit

PepsiCo, the Hatfield of the country’s cola wars to Coca-Cola’s McCoy, used higher prices to eke out slightly better first-quarter earnings than analysts expected despite essentially flat revenue. The company, which is also parent of snack food giant Frito-Lay, earned $1.13 billion, or 71 cents a share, compared with $1.14 billion, or 71 cents a share, in the period a year earlier.