PepsiCo Earnings Down 3% on Currency Moves

PepsiCo's (PEP) said second-quarter reported earnings per share fell 7% from a year earlier to 98 cents, while reported net income declined 3%, citing currency fluctuations. Core constant currency EPS rose 7% to $1.09, while core constant currency net earnings rose 11%, the company said in a statement.

The company repurchased $2.6 billion of common stock in the second quarter, it said in a statement. It also spent $739 million on dividends.

"We posted a solid second quarter, exceeding our core constant currency EPS growth target for the first half of the year," said PepsiCo Chairman and CEO Indra Nooyi.