PepsiCo Sales Drop in the Second Quarter

Beverage giant PepsiCo (NASDAQ: PEP) released a second-quarter earnings report on Monday morning that showed a 3% decrease in sales. Earnings per share slid 18%, but the company still turned a profit.

PepsiCo generated $16 billion in revenue for the quarter ended June 13. Earnings per share were $1.18, down from $1.44 last year.

"Despite being faced with significant challenges and complexities as a result of the COVID-19 pandemic, our businesses performed relatively well during the quarter, with a notable level of resiliency in our global snacks and foods business," said CEO Ramon Laguarta.

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Source Fool.com