PepsiCo: Food and Beverage Price Hikes Increase Net Revenue, Hurt Consumer Demand
PepsiCo’s quarterly net revenue surpassed analysts’ expectations following price hikes for its food and beverage products. The New York-based conglomerate’s net sales rose 10.9% to $28 billion in Q4 2022 against analysts’ estimate of $26.9 billion. Organic revenue, which excludes the impact of acquisitions and divestitures, rose 14.6% during the quarter.