Reported about 7 hours ago
PepsiCo reported a 2.6% revenue increase to $23.94 billion in the third quarter, surpassing analysts' expectations, despite a 2% drop in snack sales and a 3% decrease in beverage sales in North America. The company faced pressure from inflation and shifting consumer tastes, leading to reduced demand. While net income fell 11% to $2.6 billion, adjusted earnings per share were better than forecasted. Activist investor Elliott Investment Management is urging the company to streamline its portfolio by focusing on key brands and considering changes to its North American bottling operations.
Source: YAHOO