PepsiCo tops revenue estimates while adjusting snack strategy and prices
PepsiCo reported fourth-quarter revenue of $29.34 billion, exceeding expectations. The company is now pursuing price cuts and supply chain changes in the US.
Insights:
PepsiCo, Inc. reported revenue of $29.34 billion for the three months ended December 27, compared with estimates of $28.97 billion according to data compiled by LSEG. The company also reported quarterly core earnings per share of $2.26, which surpassed the estimates of $2.24. Despite the revenue beat, PepsiCo, Inc.stuck to its annual core earnings per share target of 5% to 7% growth that it had previously issued in December.
