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Article: PepsiCo 3Q profit climbs on cost cuts; sales fall
- Article from:
- AP Worldstream
- Article date:
- October 8, 2009
- Author:
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PepsiCo Inc. said Thursday that its fiscal third-quarter profit rose 9 percent, in part on cost-control efforts, even as revenue dropped on weak beverage sales.
The Purchase, New York, maker of drinks and Frito-Lay snacks earned $1.72 billion, or $1.09 per share, in the three months ended Sept. 5. That's up from the $1.58 billion, or 99 cents per share, a year ago.
The results beat expectations of analysts polled by Thomson Reuters, whose estimates typically exclude one-time items, forecast profit of $1.03 per share.
PepsiCo, which also sells the Gatorade and Tropicana brands, said its sales slipped 1 percent to $11.08 billion from $11.24 billion. The results fell short of ...