• PepsiCo announced Q2 net income up year-on-year by 15% to $1.01 billion (€892.07m; £617.43m) thanks to robust sales performance by its Frito-Lay and beverages units. This compensated for disappointing results from its sovereign brand, Pepsi-Cola. Earnings per share equated to $0.58 compared with $0.48 in the same period last year. Shares soared as Wall Street digested the news, up 5.4% to $46.95 – a 52-week high.
• Emap, the London-headquartered media group, reported at its annual meeting that airtime revenues slowed across all music TV operations during the year. The overall business, however, performed “reasonably” well and expects to meet full-year expectations for 2003. Chairman Adam Broadbent said that despite slower TV revenues, ad income from consumer magazines showed “good progress, likewise “robust” circulation figures. There were also strong Q1 advertising figures across its radio portfolio, with London stations Kiss and Magic performing particularly well.
Data sourced from: The Wall Street Journal Online and mad.co.uk; additional content by WARC staff