PepsiCo Inc. said its normalized net income for the fiscal second quarter ended June 13 came to $1.13 per share, compared with the S&P Capital IQ consensus estimate of $1.24 per share.
In the prior-year period, the per-share result came in at a profit of $1.14.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.69 billion, a decline from $1.74 billion in the prior-year period.
The normalized profit margin increased to 10.6% from 10.3% in the year-earlier period.
Total revenue decreased 5.7% on an annual basis to $15.92 billion from $16.89 billion, and total operating expenses fell 6.5% from the prior-year period to $13.00 billion from $13.91 billion.
Reported net income came to $1.98 billion, or $1.33 per share, compared with $1.98 billion, or $1.29 per share, in the year-earlier period.