Pepsi is launching its first digital cashback rewards program for customers. FOX Business’ Tracee Carrasco with more.
PepsiCo reported better-than-expected fourth-quarter results driven by its North American beverage and Frito-Lay units.
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The Purchase, New York-based company’s fourth-quarter profit fell 74 percent from a year ago to $1.77 billion, or $1.26 a share, as the impact of a tax boost dissipated. Core earnings of $1.45 a share, however, topped the $1.44 average estimate from analysts and revenue rose 5.7 percent to $20.64 billion, also topping projections.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| PEP | PEPSICO INC. | 146.08 | 0.00 | 0.00% |
| KO | COCA-COLA COMPANY | 59.41 | -0.18 | -0.30% |
“We are pleased with our performance for 2019 as we met or exceeded each of the financial goals we outlined at the beginning of the year,” CEO Ramon Laguarta said in a statement.
This story is developing. Check back for updates.
