PepsiCo raises outlook as quarterly results beat expectations
Publishing timestamp: 2023-04-25 10:44:14
Summary
PepsiCo raised its outlook for the year after posting earnings and revenue that beat Wall Street's expectations. The company reported a net income of $1.93 billion, or $1.40 per share, compared to $4.26 billion, or $3.06 per share, in the year-earlier period. Organic revenue rose 14.3%, with Frito-Lay North America reporting a 16% increase and PepsiCo Beverages North America reporting a 12% increase. The company expects its full-year 2023 organic revenue to increase 8% and core constant currency EPS to increase 9%. PepsiCo also recently set a goal to make 100% of its packaging recyclable, compostable, biodegradable, or reusable by 2025.
Sentiment: POSITIVE
Tickers: PEP,
Keywords: food and drink, business, business news, pepsico inc., breaking news: earnings, breaking news: business, earnings,
Source: https://www.cnbc.com/2023/04/25/pepsico-pep-q1-earnings-report-2023.html