date:Oct 18, 2012
PepsiCo has reported a 4.9% dip in third-quarter profits after the firm was hit by slower sales and unfavourable foreign exchange rates.
PepsiCo netted 1.9 billion or $1.21 a share in the quarter, down from $2 billion year-on-year.
Revenue was down 5.3% to $16.7 billion, primarily due to beverage refranchisings in China and Mexico and unfavourable foreign exchange rates. Operating margin was 16.8%, up from 16.5% during the same period last year.
A poll of analysts by Thomson Reuters had tippe