PepsiCo 3Q profit climbs on cost cuts; sales fall

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Associated Press

Posted on October 8, 2009 at 7:03 AM

Updated Thursday, Oct 8 at 7:03 AM

PURCHASE, N.Y. (AP) — Soft drinks and snack maker PepsiCo says its fiscal third-quarter profit rose 9 percent, partly on cost-control efforts.

The maker of Pepsi cola and Frito-Lay snacks earned $1.72 billion, or $1.09 per share, in the three months ended Sept. 5. That's up from the $1.58 billion, or 99 cents per share, a year ago.

Purchase, N.Y.-based PepsiCo Inc., which also sells the Gatorade and Tropicana brands, says revenue slipped 1 percent to $11.08 billion.

Analysts polled by Thomson Reuters forecast profit of $1.03 per share on revenue of $11.25 billion.

Costs fell faster than revenue. Selling, general and administrative expenses fell 8 percent to $3.65 billion.

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