PepsiCo Inc’s quarterly sales fell 2.9 percent, the sixth straight quarter of decline, hurt by a strong dollar and weak revenue in some markets including Latin America and Europe.
The net income attributable to the company declined to $931 million, or 64 cents per share, in the first quarter ended March 19 from $1.22 billion, or 81 cents per share, a year earlier.
The latest quarter included an impairment charge of $373 million related to Pepsi’s interest in Tingyi-Asahi Beverages Holding Co Ltd.
Net revenue fell to $11.86 billion from $12.22 billion.
[Source:- Reuters]
