PepsiCo Inc. said its normalized net income for the fiscal first quarter ended March 21 amounted to 67 cents per share, compared with the S&P Capital IQ consensus estimate of 79 cents per share.
EPS fell year over year from 69 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.01 billion, a decrease from $1.06 billion in the prior-year period.
The normalized profit margin fell to 8.3% from 8.4% in the year-earlier period.
Total revenue fell on an annual basis to $12.22 billion from $12.62 billion, and total operating expenses fell year over year to $10.38 billion from $10.72 billion.
Reported net income totaled $1.22 billion, or 81 cents per share, compared with $1.22 billion, or 79 cents per share, in the prior-year period.
