PepsiCo forecasts annual profit above expectations
Reuters
Published Oct 01, 2020 06:32AM ET
(Reuters) - PepsiCo Inc (O:PEP) forecast full-year profit above market expectations on Thursday, as consumers buy more of its snacks such as Doritos and Cheetos while staying indoors due to the COVID-19 pandemic.
The company said net revenue rose to $18.09 billion from $17.19 billion in the third quarter ended Sept. 5. Analysts had expected revenue of $17.23 billion, according to IBES data from Refinitiv.
It forecast full-year core earnings of $5.50 per share, above expectations of $5.36.
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Written By: Reuters
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