PepsiCo’s Stock Slumps After Revenue Declines

PepsiCo Reports Surprise Drop in Fourth-Quarter Revenue, but Beats Profit Expectations and Raises Dividend

Shares of PepsiCo Inc. fell 1.1% in premarket trading Friday after the beverage and snack giant reported a surprise drop in fourth-quarter revenue. The company cited weakness in its North America businesses as the primary reason for the decline. However, despite the revenue drop, PepsiCo managed to beat profit expectations and raised its dividend by 7%.