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Pepsi Announces Earnings; Coke Proposes Stock Split
Thursday, April 26, 10:52 AM ET

PepsiCo (NYSE:PEP) announced today that net income in the first quarter was flat versus a year ago, as the company was able to raise prices to make up for rising ingredient costs. The company earned $1.13 billion, or 71 cents per share,versus $1.14 billion, or 71 cents per share, in the same period last year. Excluding one-time items, the company earned 69 cents per share, beating expectations of 66 cents per share. Revenue grew by four percent to $12.43 billion, mostly due to price increases.

Shares are lower by 0.36 percent in early trading.

Rival Coca Cola (NYSE:KO) today announced that it is seeking its first stock split in 16 years. The proposed 2-for-1 split is in line with a plan by the company to double revenue during the decade. The split would increase the number of shares to 11.2 billion from 5.6 billion.

Shares are about even in early trading.

For MarketNewsVideo.com, I'm Sayoko Murase.

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