Pepsi Improves Forecasts

Benzinga
Benzinga
  • 3 years ago
PepsiCo ($PEP@US) said Tuesday that it expects better revenue growth in the 3rd quarter, rising 7% with a double-digit increase in net revenue. Highlighting strong demand for its Mountain Dew beverages, Pepsico also noted revenues from the Frito-Lay North America division rose around 6%. Among the positive news, the company also said that its net attributable income fell 3% due to increased distribution and raw material costs. Despite the positive news, Pepsi stock was down half a percent overnight.

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