Dr. Pepper Snapple Group (NYSE:DPS) announced that net income increased by 16 percent in the third quarter due to price increases. Revenue, however, was flat, and the company lowered the full year revenue forecast. The company earned $179 million, or 84 cents per share, versus $154 million, or 71 cents per share, in the same period last year, while revenue was basically flat at $1.53 billion. Analysts expected earnings of 77 cents per share and revenue of $1.56 billion.
Shares are lower by nearly 3.2 percent.
Last week, rival Coca-Cola (NYSE:KO) announced a 3.9 percent increase in profit during the third quarter due to improving sales in Europe.
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