PepsiCo Profit Rises 12% on Diet-Drink Sales

PepsiCo Inc. said second-quarter earnings increased 12%, spurred by higher sales of lower-calorie beverages.

Revenue rose at the slowest pace in a year because sales of Quaker snacks fell.

Net income increased to $1.06 billion, or 61 cents a share, from $944 million, or 54 cents, a year earlier, Purchase, N.Y.-based PepsiCo said.

Sales increased 8.1% to $7.07 billion.

Shares of PepsiCo fell $1.49 to $51.92 on the New York Stock Exchange.

From Bloomberg News

* UnitedHealth Group Inc. said second-quarter net income rose to $596 million, or 93 cents a share, from $439 million, or 71 cents, in the same period a year ago. Revenue rose 23% to $8.7 billion on acquisitions. Shares rose $3.81, or 6%, to $65.71 on the NYSE.

* Nokia reported its profit rose 14% to $865 million in the second quarter but sales fell 5.7% to $8 billion, and it warned that its future profitability remained threatened by increased competition, lower prices and a lack of popular new models. Shares dropped $1.79 to $12.45 on the NYSE.

* Commerce-based grocery company Smart & Final Inc. reported second-quarter net income of $8.1 million, or 26 cents a share, compared with a net loss of $69.2 million, or $2.31, a year ago. Same-store revenue increased 16.3% to $457.8 million. Shares declined a penny to $12.88 on the NYSE.