PepsiCo Inc. (PEP) says its net income dipped 5 percent in the third quarter,

PepsiCo Inc. (PEP) says its net income dipped 5 percent in the third quarter, as the food and beverage maker worked to turn aroundits business and bolsterits flagship brands. The company stood by its guidance for theyear, however, and profit came in above Wall Street expectations. PepsiCo says it earned$1.9 billion, or $1.21 per share, for the period. That's compared with $2 billion, or $1.25 per share, a year ago. Earnings from core operations were $1.20 per share, better than the $1.16 per share analysts expected. Revenue fell 5 percentto $16.65 billion, partly because of unfavorable currency exchange rates and the refranchising of itsbusiness in China and Mexico. That was shortof the $16.96 billion Wall Street expected.