Pepsi blames the US dollar for a big revenue decline

PepsiCo said its quarterly revenue fell 3.2 per cent, largely due to a strong dollar.

The company’s net revenue fell to $US12.22 billion in the first quarter ended March 21, from $US12.62 billion a year earlier.

Net income attributable to PepsiCo was little changed at $US1.22 billion but earnings per share rose to 81 cents from 79.

Shares of Pepsi were down 1% in pre-market trade on Thursday.

(Editing by Don Sebastian)

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This article originally appeared at Reuters. Copyright 2015. Follow Reuters on Twitter.

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