PepsiCo Just Reported Earnings. Here's What Investors Need to Know.
Pepsi gained on its third-quarter report in spite of a cut in guidance.
Overview
Mea culpa. Earlier this week, I predicted Pepsico (NASDAQ:PEP) would slide after earnings. I got that one wrong.
I thought Pepsi's recent slump, which had dragged shares to a five-year low amid stubborn inflation and weakness in snacks due to the impact of GLP-1 drugs, would continue, but shares of the food and beverage giant rose 3.7% on Thursday following the results.
Details
Pepsico topped expectations on the top and bottom lines in Q3, reporting organic revenue growth of 3.1%, an improvement from the first half of the year. Overall revenue rose 5.6% to $25.3 billion, which was ahead of estimates at $24.96 billion.
Source
Originally published at www.fool.com.
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