PepsiCo's fourth quarter profits and revenue both increased.

PepsiCo announced that both profits and revenues in the fourth quarter have doubled, and they stated that they will focus on cost cutting and boosting sales in the coming year. PepsiCo reported on Tuesday that for the quarter ending on December 27, the company achieved a profit of $2.54 billion, or $1.85 per share, compared to $1.52 billion or $1.11 billion for the same period last year. Excluding certain one-time items, the company's earnings per share were $2.26. Analysts had previously expected an adjusted earnings per share of $2.24. The company's revenue increased by 5.6% to $29.34 billion, higher than Wall Street's previous estimate of $28.98 billion. On an organic basis, revenue grew by 2.1%. CEO Ramon Laguarta noted improvements in both PepsiCo's North American and international businesses. Looking ahead, he said the company is focusing on accelerating growth by reshaping its brands and providing more attractive value to address affordability issues.