PepsiCo profit falls as costs increase

Reuters

NEW YORK (Reuters) - PepsiCo Inc <PEP.N> reported a lower quarterly profit on Thursday, hurt by higher costs.

The drink and snack maker said net income was $1.14 billion, or 71 cents per share, in the first quarter, compared with $1.43 billion, or 89 cents per share, a year earlier.

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Revenue rose to $11.94 billion from $9.37 billion.

(Reporting by Martinne Geller; Editing by Lisa Von Ahn)

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