The 4Q results of PepsiCo have investors pleased, with profit rising a surprising 17 percent on higher prices and sales. Dividends were raised by 5.6 percent.

CEO Indra Nooyi gave a triumphant report, calling the previous year a "turning point" for the beverage giant.

"We truly stepped up our game and created the foundation for continued improvement and competitive advantage," said Nooyi.

Pepsi's growth strategy involves expansion internationally, including huge markets such as China and India where consumer demand for packaged beverages and food is gaining steam.

The iconic brand bolstered its image recently by sponsoring Beyonce's performance at the Super Bowl XLVII halftime show. New products, including a reduced calorie soda named Pepsi Next and a Mountain Dew breakfast drink, are part of a larger strategy to boost PepsiCo's vitality.

Shares rose on the news of Pepsi's $1.66 billion 4Q profit.