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Share Name Share Symbol Market Type
PepsiCo Inc NASDAQ:PEP NASDAQ Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.20 0.17% 120.46 120.10 128.36 124.65 117.99 118.57 9,902,516 04:00:00

Pepsi Quarterly Revenue Rises, Profit Falls

13/02/2020 12:00pm

Dow Jones News


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By Dave Sebastian

 

PepsiCo Inc. posted higher revenue for the fourth quarter, though profit fell as it booked a benefit from income taxes in the prior year.

The food-and-beverage company said revenue rose 5.7% to $20.64 billion for the quarter ended Dec. 28, 2019, from the prior year. Analysts polled by FactSet were looking for $20.25 billion.

The company's organic revenue grew 4.3% for the latest period and said it anticipates the metric, which strips out the effect of currency swings and acquisitions, to grow 4% in 2020.

Net income fell to $1.77 billion, or $1.26 a share, from $6.85 billion, or $4.83 a share, in the comparable quarter last year. The company booked $4.93 billion in income-tax benefit in the same period last year.

Adjusted earnings were $1.45 a share, ahead of the $1.44 a share analysts were looking for.

The company expects adjusted per-share earnings to grow 7% in 2020.

 

Write to Dave Sebastian at dave.sebastian@wsj.com

 

(END) Dow Jones Newswires

February 13, 2020 06:45 ET (11:45 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

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