PepsiCo fourth-quarter profit falls

By @ibtimes on

Soft drink and snacks maker PepsiCo Inc lower quarterly profit on Thursday, hurt by the weak economy.

The maker of Pepsi-Cola and Frito Lay snacks said net income fell 5 percent to $1.37 billion, or 85 cents per share, in the fourth quarter, from $1.43 billion, or 90 cents per share, a year earlier.

Its sales jumped 37 percent to $18.16 billion, helped by the acquisition last year of its two largest bottlers.

(Reporting by Martinne Geller, editing by Maureen Bavdek)

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