PepsiCo beats earnings estimates, raises full-year outlook

PepsiCo Thursday reported quarterly earnings and revenue that topped analysts’ expectations, despite falling demand for its drinks and food.

The beverage giant also raised its full-year outlook for the second consecutive quarter.

Revenue: $22.32 billion vs. $21.73 billion expected

For 2023, Pepsi now expects 10% organic revenue growth, up from its prior forecast of 8%. The company also hiked its core constant currency earnings outlook to 12% growth from its previous expectation of 9%.