PepsiCo reported lower quarterly earnings Friday, hurt by restructuring and impairment charges and lower volume in its North American beverage business, but results met Wall Street estimates.
The blended earnings growth rate for the S&P 500 for Q4 2008, combining actual numbers for companies that have reported, and estimates for companies yet to report, fell to -40.6% from -35.2% due in part to downward estimate revisions for Financials such as Wells Fargo and Prudential Financial. On July 1st, the estimated growth rate for Q4 was 59.3%, and by October 1st, the estimated growth rate had fallen to 46.7%. (Data provided by Thomson Reuters)