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Fizz And Fizzle At Coke And Pepsi


In Business This Week

FIZZ AND FIZZLE AT COKE AND PEPSI

All soda pop companies are not created equal. That's clear from the dramatically different third-quarter results for Coca-Cola and PepsiCo. Coke reported a 16% jump in net income, to $456 million, on a 14% rise in revenues, to $3.2 billion. Pepsi, on the other hand, posted a 15% decline, to $285 million, on a 9% revenue increase, to $4.9 billion.

Granted, Pepsi took an aftertax charge of $62.4 million for the restructuring of Frito-Lay, the company's troubled snack food division, and heavy discounting drove Pepsi's domestic snack food operating earnings down 3%. But growth at Taco Bell, the company's fast-food chain, has also slowed, and Pepsi, like Coke, has seen a falloff in domestic soda sales. Coke, though, is still posting strong growth overseas, notably in France and Germany.EDITED BY HARRIS COLLINGWOOD


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