Why Dr Pepper Snapple Stock Slumped 7% on Wednesday
Shares of Dr Pepper Snapple Group Inc. (NYSE: DPS) collapsed on Wednesday, falling as much is 7.2% after the company reported third-quarter earnings that missed analyst estimates by a nickel. Expected to report adjusted earnings of $1.15 per share, Dr Pepper instead reported just $1.10. Revenue for the quarter was $1.74 billion, just shy of Wall Street's expected $1.77 billion. Dr Pepper closed the day down 4.7%.
Dr Pepper stock could use a jump-start. Image source: Getty Images.
Net income as calculated under GAAP was a penny higher than the adjusted figure -- $1.11 per share. Net income was, however, 14% below what Dr Pepper earned in the year-ago quarter -- $1.29 -- despite a 1% increase in sales volumes and a 4% rise in revenue.
Source: Fool.com
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