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Home U.S. World Entertainment Sports Business Health Science Technology Politics Offbeat Environment Travel PepsiCo Sees 3Q Profit Jump But Cuts Outlook Use Article Email Facebook Digg Twitter Buzz Up! Share October 8, 2010 9:58 a.m. EST Topics: earnings, food, company information, business, economy, business and finance, consumer goods, United States Kris Alingod - AHN News Contributor Purchase, NY, United States (AHN) - PepsiCo's third quarter net income rose 12 percent, the company reported Thursday, but the food giant revised its outlook for full year earnings. Profit for the quarter ended Sept. 4 was $1.9 billion, or $1.19 a share, up from $1.72 billion, or $1.09 per share a year ago. Adjusted net income was $1.22 a share, meeting analysts' estimates. Revenue increased 40 percent to $15.5 billion, fueled by gains in the beverage and snacks business and the acquisition of the company's two anchor bottlers. Despite the strong performance, PepsiCo (NYSE: PEP) cut the top end of its fiscal year forecast and said it expects 11 percent to 12 percent growth. The New York-based company, which also owns Quaker and Tropicana, previously projected growth of 11 percent to 13 percent. “Even in a macroeconomic environment that continues to be challenging, we believe we have achieved top-tier performance among leading consumer staple companies,” said PepsiCo chair and chief executive Indra Nooyi. “This reflects our steadfast commitment to managing both the short-term and long-term, by driving balanced growth across our portfolio while making the right strategic investments.” Copyright © 2003 - 2010 AHN - All rights reserved.Redistribution, republication. syndication, rewriting or broadcast is prohibited without the prior written consent of AHN.License real time content for your website, business, digital signage network or publication. 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