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PepsiCo Boosts Its Sales Outlook; CFO Sees ‘Big Momentum’

  • Revenue at North American businesses surpasses estimates
  • Shares little changed amid broad decline in U.S. stock markets
Bottles of PepsiCo Inc. brand Gatorade beverages for sale at a grocery store in Bagdad, Kentucky, U.S.

Bottles of PepsiCo Inc. brand Gatorade beverages for sale at a grocery store in Bagdad, Kentucky, U.S.

Photographer: Luke Sharrett/Bloomberg
Updated on

PepsiCo Inc. raised its sales growth estimate for the year and posted profit that surpassed expectations as pandemic restrictions eased and consumers returned to bars, restaurants and events. 

The maker of Gatorade, Doritos and Quaker Oats now sees full-year organic revenue growth of 8%, compared with a prior view of 6%, according to a statement Tuesday. Revenue in the first quarter was $16.2 billion, topping the $15.6 billion average estimate from analysts.