PepsiCo Profit Falls 4.8%; Earnings Forecast Trails
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PepsiCo Inc., the world’s largest snack-food maker, posted a 4.8 percent drop in fourth-quarter profit and projected full-year earnings growth that trailed analysts’ estimates as commodity costs increase.
Net income fell to $1.37 billion, or 85 cents a share, hurt by acquisition costs, PepsiCo said today. The Purchase, New York-based company forecast 2011 earnings per share growth of as much as 8 percent, equal to $4.46. Analysts on average projected $4.56, according to a Bloomberg survey.