The early wave of third quarter earnings stepped on a banana. Pepsi (PEP) numbers were awful and they cost a lot of people their jobs.
Globally, approximately 3,300 positions will be eliminated in connection with the productivity program, of which about 40 percent relate to the closing of up to six plants and other capacity rationalization actions.
While revenue rose from $10.2 billion to $11.2 billion, net income fell from $1.743 billion to $1.576 billion.
In the pre-market, Pepsi shares indicated that they would trade down at the open.
Douglas A. McIntyre
Cash Back Credit Cards Have Never Been This Good
Credit card companies are at war, handing out free rewards and benefits to win the best customers. A good cash back card can be worth thousands of dollars a year in free money, not to mention other perks like travel, insurance, and access to fancy lounges. See our top picks for the best credit cards today. You won’t want to miss some of these offers.
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
