PepsiCo Q3 profit tops estimates

PepsiCo, the world’s largest snack-food maker, reported third-quarter profit that topped analysts’ estimates as it boosted prices.

Net income fell 5% to $1.9 billion (€1.47bn), or $1.21 a share, from $2bn, or $1.25, a year earlier, Purchase, New York-based PepsiCo said yesterday. Profit excluding some items was $1.20 a share. That exceeded the $1.16 average of 14 analysts’ estimates compiled by Bloomberg.

The world’s second-largest soft-drink maker employs close to 600 people directly in Ireland.