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PepsiCo Stocks Jump Although Profit Outlook Shrinks
GuruFocus ·
GuruFocus reports: PepsiCo , the global food-and-beverage giant, reported third-quarter revenue of $25.27 billion, up 5.6%, while shares rose about 1.0% to $125 at 11.10am EST as of October 8. Organic growth came in at 3.1%. Investors welcomed the sales growth, but the weaker earnings outlook puts a brake on the celebration. The profit numbers tell two different stories. Reported operating margin expanded 195 basis points, while core margin slipped 35 basis points after excluding…