PepsiCo's 2Q net income slumps 3 pct on currency

PURCHASE, New York — PepsiCo says foreign currency fluctuations hurt its second-quarter results, pushing net income down 3 percent, even though revenue soared because of its purchase of its largest bottlers. The maker of Pepsi and Doritos said Monday it earned $1.6 billion, or 98 cents per share. Without foreign currency fluctuations, the company would have earned $1.09 per share. That's a penny more than analyst estimates. They typically exclude one-time items from their estimates. Revenue climbed 40 percent to $14.8 billion. The company says sales volume of soft drinks in North America continued to be soft. Americans are spurning soft drinks in favor of juices and teas. But soft drink sales in emerging markets rose, as did snacks around the globe. —AP