PepsiCo revenue tops Wall Street estimates in fourth quarter

Business


(Reuters) – PepsiCo Inc’s (PEP.O) sales topped Wall Street forecasts in the fourth quarter, led by higher demand at its Frito-Lay business that makes Doritos and Cheetos.

The maker of Tropicana juices and Mountain Dew said on Tuesday revenue rose slightly to $19.53 billion in the quarter ended Dec. 30. Analysts on average had expected $19.39 billion, according to Thomson Reuters I/B/E/S.

PepsiCo recorded a net loss of $710 million or 50 cents per share, compared to a year-earlier profit of $1.40 billion or 97 cents per share, reflecting a $2.5 billion one-time charge related to new U.S. tax laws.

Reporting by Sangameswaran S and Nivedita Balu in Bengaluru; Editing by Sai Sachin Ravikumar



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