From Dow Jones & Company:

PepsiCo Inc. shares slumped after the company’s revenue declined for the first time in at least five years. The quarterly profit beat expectations and annual dividend increased by 7%, but full-year sales-growth outlook was trimmed. The stock sank 3% in morning trading, on track for the biggest one-day loss since 2023. Net income jumped to $1.3 billion, while revenue slipped 0.5% to $27.85 billion. Among business segments, PepsiCo Beverages North America revenue fell 2.4% and Frito-Lay North America revenue declined 3%, while Latin America experienced a 17.6% growth. The new annual dividend rate implies a dividend yield of 3.21%. Therefore, PepsiCo reported a decline in revenue but a rise in profit and dividend rate.



Read more: PepsiCo reports a very rare revenue miss, but profit beat and dividend lifted