PepsiCo profit up ex-items
The company, which makes Tropicana juice, Frito-Lay snacks and Quaker Oats cereals in addition to its namesake cola, also said that current foreign exchange rates would cut about 1 percentage point from its earnings-per-share growth rate.
PEPSICO (PEP.NY)earned $1.60 billion, or 98 cents per share, in the second quarter, its first full quarter owning its largest bottlers. That compared with $1.66 billion, or $1.06 a share, a year earlier and was weighed down by higher interest expense.
Income from operations rose 12 percent.
Excluding one-time items, earnings per share were $1.09, compared with the analysts' average view of $1.08, according to Thomson Reuters I/B/E/S.
(Reporting by Brad Dorfman and Martinne Geller; Editing by Lisa Von Ahn)