PepsiCo earnings top estimates, but quarterly revenue slides for the first time in nearly four years
Publishing timestamp: 2024-02-09 10:12:26
Summary
PepsiCo reported quarterly earnings that beat expectations, but its revenue fell short. The company cited high borrowing costs and lower personal savings as factors affecting consumer budgets. North American demand for PepsiCo's food and drinks weakened, and CEO Ramon Laguarta mentioned a slowdown in U.S. sales. However, Laguarta expressed optimism about the overall state of consumers, citing low unemployment and hopes for falling interest rates and rising wages. PepsiCo's shares fell 3% in morning trading.
Sentiment: MIXED
Tickers: PEP,
Keywords: earnings, dividends, breaking news: markets, pepsico inc., united states, ramon laguarta, business news, business, markets, retail industry, food and drink, breaking news: business,
Source: https://www.cnbc.com/2024/02/09/pepsico-pep-q4-2023-earnings.html