PepsiCo Posts Upbeat Revenue Boosted by Volume but Profit Declines
Shares of PepsiCo Inc. edged marginally higher on Wednesday after the company reported revenue and volume growth but profit fell compared with the same period last year.
For the three-month period ended December 31st, the company posted profit of $1.4 billion, or 97 cents a share, down from $1.72 billion, or $1.17 a share, a year earlier. Profit was reported to be weighed down by interest expenses and an income-tax provision. On an adjusted basis, earnings per share came in at $1.20, 4 cents above analyst forecasts.
Meanwhile, the multinational food, snack and beverage corporation said revenue jumped 5% to $19.52 billion, roughly in line with market expectations for 5% to $19.52 billion.
For 2017, PepsiCo expects earnings per share to reach $5.09 with organic revenue growth of at least 3%. Analysts had expected earnings per share of $5.16 for the year.
Buy Stop at 107.00, Take profit 109.00, Stop loss at 106.00