PepsiCo Raises Outlook, Sees Resilience After Strong Quarter
- Revenue, profit targets raised again after April lift
- CFO expects lower rate of price hikes in the second half
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PepsiCo Inc. raised its sales and earnings estimates once again after a strong quarter, suggesting consumers are still willing to pay higher prices for its beverages and snacks.
Organic revenue will probably grow 10% this year after a 13% gain last quarter that exceeded analysts’ estimates, the company said in a statement. Earnings per share will likely increase by 12% at constant currencies in 2023. That measure also topped quarterly expectations, driven by improved productivity from automation and digital enhancements.