PepsiCo lifts profit targets again, demand resilient
PepsiCo has upped its annual profit forecast for a third time this year. IGTV financial analyst @AngelineOng takes a look at how the consumer goods firm is able to pass on rising costs, amid a tough consumer environment.
PepsiCo pushes through cost-of-living crisis
PepsiCo's third-quarter profit has 'beat the street', lifting its annual profit forecast a third time this year. Net sales also rose nearly 7%.
Much of this is down to the fact that PepsiCo has bravely raised its prices and so far has managed to push it through despite the cost-of-living crisis, despite many households under pressure given high interest rates.
Snack products still seem to be affordable
But it's seen that companies like PepsiCo, with brands that potentially could give these inflation-wary customers a bit of affordable luxury, will continue to do well. PepsiCo owns brands like Miranda and Gatorade, and also they sell everything from Doritos to Cheetos.
The Frito-Lay North America subsidiary of PepsiCo reported a 7% jump in organic revenue increase, while volumes only fell marginally.
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