PepsiCo revenue disappoints as inflation-battered customers cut back on snack spending
PEPPepsiCo(PEP) New York Post·2024-07-12 03:01

PepsiCo’s second-quarter profits jumped but its revenue missed Wall Street’s expectations as cash-strapped customers cut back on snack spending amid persistent inflation.The junk-food conglomerate — which owns brands including Pepsi, Frito-Lay, Quaker and Gatorade — also lowered its fiscal 2024 expectations, predicting organic revenue will reach 4%. While this number technically meets PepsiCo’s initial 4% goal, company executives said it is at the lower end of the range.“When we’re saying at least 4[%], we ...