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Pepsico Profits Fall Less Than Expected

PepsiCo Inc. (PEP), the world’s largest snack-food maker, reported second-quarter profit that fell less than analysts’ estimated after raising prices.

Profit excluding some items was $1.12 a share, Purchase, New York-based PepsiCo said today in a statement. That exceeded the $1.09 average of 15 estimates compiled by Bloomberg. Net income in the quarter fell 21 percent to $1.49 billion, or 94 cents a share, from $1.89 billion, or $1.17, a year earlier.”

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