pepsico reports fall in firstquarter sales
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
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*

pepsico reports fall in firstquarter sales pepsico reports fall in firstquarter sales

 



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*

pepsico reports fall in firstquarter sales pepsico reports fall in firstquarter sales

 



GMT 10:06 2012 Saturday ,28 July

Querrey advances at ATP LA Open

GMT 21:15 2017 Thursday ,01 June

Trump condemns deadly Kabul explosion

GMT 02:15 2017 Thursday ,24 August

Is your country on the Qatar free entry list of 80?

GMT 19:48 2016 Monday ,03 October

Controversial boxing champ Tyson Fury retires

GMT 08:20 2015 Tuesday ,08 December

PC market woes show no sign of easing

GMT 17:27 2017 Tuesday ,25 April

20 Yemeni soldiers killed, injured in explosion

GMT 11:52 2017 Saturday ,30 December

OIC condemns Mar Mina Church attack

GMT 00:03 2017 Saturday ,25 March

Arab Meeting to Examine Anti-Corruption Methods

GMT 13:12 2017 Thursday ,20 April

Deputy premier meets Arab League chief

GMT 14:13 2014 Friday ,10 January

Opel Astra GTC

GMT 18:27 2016 Tuesday ,02 August

Turkish Foreign Minister arrives in Islamabad

GMT 11:27 2016 Tuesday ,13 December

Saudi woman arrested for challenging social norms
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

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday