UPDATE: Dr Pepper Snapple Reports Drop In Q2 Profit

Dr Pepper Snapple Group Inc DPS reported a decline in its second-quarter profit. DPS reported its quarterly profit at $172 million, or $0.77 per share, down from $183 million, or $0.74 per share, in the year-ago period. Its sales climbed to $1.58 billion from $1.52 billion. However, analysts were expecting a profit of $0.76 per share on sales of $1.6 billion. DPS projects profit for the year in the range of $2.70 to $2.78 per share, versus analysts' estimates of $2.75 per share. DPS shares closed at $39.64 yesterday.