PepsiCo hikes forecast after third-quarter earnings, revenue top expectations

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PepsiCo reported earnings Wednesday morning that beat analyst expectations.

hiked its forecast for the year Wednesday morning after reporting third quarter earnings and revenue that beat analyst expectations.Here's how the owner of Mountain Dew, Gatorade and Lay's performed compared to Wall Street estimates, according to Refinitiv:Revenue: $21.97 billion vs. $20.84 billion expected.

The company increased its forecast for organic revenue growth for 2022 from 10% to 12% and core constant currency earnings per share growth from 8% to 10%. PepsiCo has previously said it expected its cost to continue rising in the second half of this year. In response, the company has said it was accelerating its cost management initiatives, including using smaller sizes for its variety packs.

 

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Great news for investors

dtarian04 Not a surprise with price gouging ie a bottle of pepsi $pep used to be 1.25 now close to $3 at Kroger

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