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Revenue in the North American drinks unit rose for first time in a year but profit fell due to higher advertising spending
Sales of beverages in PepsiCo Inc.’s home market ticked up in the latest quarter, reversing a yearlong slide at the soda giant’s largest division.
Profit for the segment fell 11% from a year earlier, dragged down by increased spending on advertising and marketing, and higher transport and aluminum costs, PepsiCo finance chief Hugh Johnston said. As a result, the company raised prices on its North American beverages by low single-digit percentages in September.