PepsiCo's stock falls after a surprise revenue decline, while profit beat views and the dividend was raised

Shares of PepsiCo Inc. PEP, +1.39% fell 1.1% to pull back from a five-month high in premarket trading Friday, after beverage and snack giant reported a surprise drop in fourth-quarter revenue, amid weakness in the North America businesses, but beat profit expectations and raised its dividend by 7%. Net income jumped to $1.3 billion, or 94 cents a share, from $518 million, or 37 cents a share, in the year-ago period. Excluding nonrecurring items, core earnings per share of $1.78 beat the FactSet consensus o ...