PepsiCo: Steady profit supports chief

Comment on this story

PepsiCo’s second-quarter profit beat analysts’ estimates after it reduced expenses, the largest snack maker reported yesterday. Net income totalled $1.98 billion (R21bn), or $1.29 a share, compared with $2.01bn, or $1.28, a year earlier, the New York-based company said in a statement. Excluding some items, profit totalled $1.32 a share. The average of 17 analysts’ estimates was $1.23 on this measures. PepsiCo also boosted its full-year earnings forecast. The results give chief executive Indra Nooyi fresh ammunition as she contends with activist investor Nelson Peltz, who has lobbied for the company to break up its snack and beverage businesses. Nooyi has spurned that idea, opting instead for a plan to improve performance and cut costs. – Bloomberg

sign up

Comment Guidelines

  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

  5. Verified email addresses: All users on Independent Media news sites are now required to have a verified email address before being allowed to comment on articles. You are only required to verify your email address once to have full access to commenting on articles. For more information please read our comment guidelines