Bad Start For Earnings: Pepsi (PEP) Tanks

October 14, 2008 by Douglas A. McIntyre

AngrybearThe early wave of third quarter earnings stepped on a banana. Pepsi (PEP) numbers were awful and they cost a lot of people their jobs.

Globally, approximately 3,300 positions will be eliminated in connection with the productivity program, of which about 40 percent relate to the closing of up to six plants and other capacity rationalization actions.

While revenue rose from $10.2 billion to $11.2 billion, net income fell from $1.743 billion to $1.576 billion.

In the pre-market, Pepsi shares indicated that they would trade down at the open.

Douglas A. McIntyre

Sponsored: Want to Retire Early? Here’s a Great First Step

Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?

Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.

Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.