Arab Today, arab today pepsico reports fall in firstquarter sales
Last Updated : GMT 08:53:10
Arab Today, arab today
Arab Today, arab today

PepsiCo reports fall in first-quarter sales

Arab Today, arab today

Arab Today, arab today PepsiCo reports fall in first-quarter sales

PepsiCo's quarterly net income dropped to $931 million
New York - AFP

Soft drinks giant giant PepsiCo Inc on Monday reported a first-quarter drop in profits and the sixth consecutive fall in sales blamed on a strong dollar.

Quarterly net income fell to $931 million, while sales dropped by 2.9 percent to $11.86 billion against $11.88 billion expected by the markets.

Core earnings per share was 89 cents against 81 cents as expected by analysts.

The company's performance in the first three months of the year was affected by a $373 million impairment charge related to its interests in the Tingyi-Asahi Beverages Holding group.

"Foreign exchange translation had a 4.5 percentage point unfavorable impact," and separating its Venezuela operations due to difficulties converting local currency to dollars "had a 2 percentage point unfavorable impact on reported net revenue," PepsiCo said.

The company said it was also affected by a depreciation of its assets in Russia.

The group reaffirmed its 2016 forecast of earnings per share of around $4.66, an increase of 2.0 percent compared with 2015.

"We are off to a strong start to the year and that gives us added confidence in achieving our financial objectives for 2016," said Chairman and CEO Indra Nooyi.

 

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today pepsico reports fall in firstquarter sales Arab Today, arab today pepsico reports fall in firstquarter sales

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today pepsico reports fall in firstquarter sales Arab Today, arab today pepsico reports fall in firstquarter sales

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday