June 2009 -- PepsiCo Inc.'s first-quarter profit dropped 1% on weaker demand for soft drinks. The company's profit totaled $1.14 billion, or 72 cents per share, from $1.15 billion, or 70 cents per share, a year ago.
Revenue was $8.26 billion compared with $8.33 billion last year.
Pepsico CEO Indra Nooyi said that despite the economic slowdown "all of our businesses are performing at or above expectations, which gives me confidence in reaffirming our full-year guidance."
"I am pleased with PepsiCo's overall performance in the quarter. Our portfolio breadth, geographic reach and operating agility enabled us to deliver strong performance in a challenging global macroeconomic environment. Worldwide, our teams adapted their operating models - from refreshing our beverage lineup, to devising new value initiatives, to enhancing revenue management and expanding Power of One initiatives." said Indra Nooyi, PepsiCo CEO.
