Latest News by Industry
• The company said it had to increase prices due to the rising inflation
PepsiCo Inc (NASDAQ: PEP) on Tuesday hiked its revenue outlook for the year, as its quarterly earnings topped Wall Street expectations.
Pepsi said it had to increase prices due to the rising inflation, and even plans to keep shrinking product sizes and deploying other ways to manage rising expenses.
In the second quarter, net sales of the company rose 5% at $20.23 billion, beating estimates of $19.51 billion, according to analysts by Refinitiv.
Pepsi now expects organic revenue growth of 10% for 2022, up from its prior forecast of 8%.
Picture Credits: Getty Images
ALSO READ: