PepsiCo Q2 net falls 2.3% to $1.67 bn

Soft drinks and snacks major PepsiCo today said its net income declined by 2.3 per cent to $1.67 billion in the second quarter this year, even as its beverage volume grew by 8 per cent in the emerging markets, including India.

The company had a net income of $1.71 billion in the same period ended June 13, 2008 last year.

Net revenue fell by 3.2 per cent to $10.59 billion for the second quarter. The same stood at $10.94 billion in the corresponding period last year, the company said in a statement.

"On a constant currency basis, Asia/Middle East/Africa (AMEA) net revenue grew 14 per cent and core operating profit improved 21 per cent," the company said.

 

"Our results this quarter reinforce the advantages of our balanced portfolio, as our food and international businesses delivered solid performance while we continued the transformation of our North American beverage business," PepsiCo Chairman and Chief Executive Officer Indra Nooyi said.

However, revenue from AMEA operations grew by 5.19 per cent to $1.42 billion during the quarter under review, up from $1.35 billion last year.