As higher prices contributed to increase the snack and beverage manufacturer’s revenue for the third quarter, PepsiCo increased its revenue prediction for the year on Wednesday.
Shares of the corporation increased by 4% after the report.
PepsiCo reported revenue increased 9% from a year earlier to $21.97 billion for the quarter that ended on September 3, exceeding Wall Street projections.
The growth occurred despite volume losses in a few business divisions, including Frito-Lay North America.
The business now anticipates organic sales growth of 12% in 2022, up from 10%. PepsiCo anticipates core earnings per share to expand by 10% in constant currency, up from 8%.
