PepsiCo cuts earnings forecast as North American turnaround takes longer than expected

PepsiCo reported third-quarter net income of $3.05 billion, or $2.23 per share, compared with $2.6 billion, or $1.90 per share, in the prior year. Excluding certain items, the company earned $2.34 per share. Net sales increased 5.6% to $25.27 billion, while organic revenue growth reached 3.1% during the quarter. The results topped analyst expectations.
However, the company adjusted its full-year guidance downward as challenges in its North American market persist. PepsiCo now expects core earni