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PepsiCo quarterly sales fall 3 percent

Saheli April 18, 2016 Business Comments Off on PepsiCo quarterly sales fall 3 percent

A bottle of Pepsi is seen in this file photo illustration February 10, 2015. REUTERS/Jim Young/Illustration/Files

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]

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