Pepsi shareholders were not overly disappointed with the results, bidding shares up as much as 1.72 percent to $81.99 just after the market opened Wednesday morning. This year to date, shares have climbed 19.83 percent and gained 16.64 percent in the past 12 months.
Comparatively, rival Coca-Cola, the world’s largest beverage manufacturer, reported Tuesday that it had expanded market share in the third quarter, with net income rising 5.9 percent to $2.45 billion and revenue dropping 2.5 percent to $12.03 billion. Yet, like PepsiCo, Coca-Cola had trouble in North America as well, although its sales volume remained flat while Pepsi’s declined. But, as Coca-Cola’s market has become saturated in developed countries and is slowing becoming overloaded in emerging markets, the company must also discover other formulas for growth.
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