Pepsi posts Q3 profitThis article was originally published in Foodnews
PEPSICO has posted a third-quarter profit due to rising international sales and falling costs. The company anticipates earning per share growth of 11-13% in 2010, helped by the pending acquisition of its two largest soft-drink distributors. Net income rose 8.9% to US$1.72 billion from US$1.58 billion. Pepsico International declared a 13% increase in revenue aided by acquisitions in Europe. Sales fell 1.5% to US$1.1 billion. Production costs also fell 1.7% in the quarter while selling and administrative expenses dropped 8.1%.