PepsiCo revenue tops Wall Street estimates in fourth quarter

© Reuters. FILE PHOTO: Cans of Pepsi are pictured at a grocery store in Pasadena© Reuters. FILE PHOTO: Cans of Pepsi are pictured at a grocery store in Pasadena

(Reuters) – PepsiCo Inc’s (O:) sales topped Wall Street forecasts in the fourth quarter, led by higher demand at its Frito-Lay business that makes Doritos and Cheetos.

The maker of Tropicana juices and Mountain Dew said on Tuesday revenue rose slightly to $ 19.53 billion in the quarter ended Dec. 30. Analysts on average had expected $ 19.39 billion, according to Thomson Reuters I/B/E/S.

PepsiCo recorded a net loss of $ 710 million or 50 cents per share, compared to a year-earlier profit of $ 1.40 billion or 97 cents per share, reflecting a $ 2.5 billion one-time charge related to new U.S. tax laws.

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