PepsiCo profit falls as costs increase

By @ibtimes on

PepsiCo Inc reported a lower quarterly profit on Thursday, hurt by higher costs.

The drink and snack maker said net income was $1.14 billion, or 71 cents per share, in the first quarter, compared with $1.43 billion, or 89 cents per share, a year earlier.

Revenue rose to $11.94 billion from $9.37 billion.

(Reporting by Martinne Geller; Editing by Lisa Von Ahn)

Join the Discussion