PepsiCo Profit Tops Analysts’ Estimates on Higher Prices
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PepsiCo Inc., the world’s largest snack-food maker, reported second-quarter profit that fell less than analysts estimated after raising prices.
Profit excluding some items was $1.12 a share, Purchase, New York-based PepsiCo said today in a statement. That exceeded the $1.09 average of 15 estimates compiled by Bloomberg. Net income in the quarter fell 21 percent to $1.49 billion, or 94 cents a share, from $1.89 billion, or $1.17, a year earlier.