Pepsi Earnings Highlights
Jul 12, 2022
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- PepsiCo reported solid quarterly revenue of $20.23 billion, which is a growth of 5.2% from the previous year. đź‘Ť
- Management also raised the guidance of organic revenue growth from 8% to 10% as consumers paid more for its Doritos chips and Gatorade. đź‘Ť
- Operating income decreased by 33% largely due to the impairment of intangible assets related to the Russia-Ukraine war. đź‘Ž
- Expect costs to continue rising in the second half of the year. đź‘Ž
- PepsiCo dropped 0.57% today.
“We are pleased with our results for the second quarter as our business momentum continued despite ongoing macroeconomic and geopolitical volatility and higher levels of inflation across our markets,” said Chairman and CEO Ramon Laguarta.
“Given our year-to-date performance, we now expect our full-year organic revenue to increase 10 percent (previously 8 percent)”
