PepsiCo net income drops 5% in Q3 October 17, 2012 - 15:42 AMT PanARMENIAN.Net - PepsiCo Inc. says its net income dipped 5 percent in the third quarter, as the food and beverage maker worked to turn around its business and bolster its flagship brands, according to The Associated Press. The company stood by its guidance for the year, however, and profit came in above Wall Street expectations. PepsiCo says it earned $1.9 billion, or $1.21 per share, for the period. That's compared with $2 billion, or $1.25 per share, a year ago. Earnings from core operations were $1.20 per share, better than the $1.16 per share analysts expected. Revenue fell 5 percent to $16.65 billion, partly because of unfavorable currency exchange rates and the refranchising of its business in China and Mexico. That was short of the $16.96 billion Wall Street expected. PepsiCo is based in Purchase, N.Y.   Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion.   Partner news |  Latest news Viva sees growing demand for cloud services  In recent years, medical institutions are starting to make use of Viva’s cloud servicesTurkey replacing term "Central Asia" with "Turkestan" in textbooks The Turkish Ministry of Education is replacing the term "Central Asia" with "Turkestan" in textbooks.Armenian, German presidents meet in Berlin Armenian and German Presidents Vahagn Khachaturyan and Frank-Walter Steinmeier met in Berlin.Armenia assumes presidency of Mediterranean Network of Regulatory Authorities The Commission on Television and Radio of Armenia said it expects productive cooperation in various formats. |
