New York, July 25 (FinanceEnquiry.com) – Pepsi (NYSE: PEP) tops analysts’ estimates on higher prices during second quarter.
The world’s second largest snack-food maker reported profit excluding some item of $1.12 a share. During the quarter, the net income of the company fell 21 percent to $1.49 billion from $1.89 billion as compared to the previous year. Gross margin fell to 51.9% from 52.7%. After the company re-franchised bottling operations in China and Mexico, sales fell 2.2 percent to $16.5 billion.
For snacks, the sales volume grew 6 percent whereas for the beverages, it grew 1 percent. In Latin America, the food sales volumes rose 15 percent whereas in Africa, Middle East and Asia unit, it jumped 15 percent.
On top of a 5.5 percent gain in the first quarter, Indra Nooyi, Chief Executive Officer, raised prices 4 percent globally in the quarter. To market brands like Doritos, Mountain Dew and Pepsi-Cola, the media spending was also increased more than 40 percent
According to JP Morgan, the trajectory for the underlying business continues to be positive.
Yesterday, the shares of the company skidded 0.8 percent to $68.79 in New York.
New York, May 21 (FinanceEnquiry.com) – Since retail investors scooped up underperforming stocks for instance Sharp Corp and Tokyo Electric Power Company, Incorporated, due to this, Nikkei share average...World Stock Markets Mount on Indications of Firm US Upturn - May 20, 2013
New York, May 17 (FinanceEnquiry.com) – As a result of reduced US sales, Wal-Mart Stores Inc reported feebler -than- anticipated quarterly earnings on May 16 and besides, it also mentioned that its profit for...Feeble Statistics Freshens Anticipation of Further Central Bank Activity; the Dollar Soars - May 16, 2013
New York, May 16 (FinanceEnquiry.com) – Feeble statistics freshened anticipations on May 16 of further central bank activity in Europe, maintaining yield-hungry investors concentrated on the area's stock...West Texas Intermediate Crude Close To Bottommost Level - May 15, 2013
New York, May 15 (FinanceEnquiry.com) – With indications of increasing supplies, West Texas Intermediate crude traded close to the bottommost stage in approximately two weeks. Antitrust regulators are inquiring...Oil Futures Settle Down - May 14, 2013
New York, May 14 (FinanceEnquiry.com) – As weighed by apprehensions over deteriorating demand in China and strong worldwide output, oil futures settled down for the third consecutive session. Futures guided...China Factory Production Expansion was Weak Last Month - May 13, 2013
New York, May 10 (FinanceEnquiry.com) – Finishing five consecutive weeks of falls that sent average rates on a few loan types to fresh record lows, mortgage rates directed higher in the present week on...China’s Customer Inflation Somewhat Stepped up Last Month - May 9, 2013
New York, May 9 (FinanceEnquiry.com) – Last month, consumer inflation of China stepped up to some extent, even though yet within a gentle range that leaves space for policymakers to modify policies in order to...World Shares Strike Uppermost Level on Expansion Optimism - May 7, 2013
New York, May 7 (FinanceEnquiry.com) – World shares struck their uppermost level in about five years on May 7 seeing that sturdy US jobs report of prior week carried on augmenting hopefulness on the subject...