PepsiCo (PEP) Q2 2022 earnings beat Wall Street estimates
PepsiCo raised its revenue outlook for the year as consumers paid more for its Doritos chips and Gatorade.
This marks the second consecutive quarter that the company has hiked its revenue forecast without updating its expectations for earnings.
While higher costs weighed on its profits, the food and beverage giant saw a larger hit from the Russia-Ukraine war.
For 2022, Pepsi now expects organic revenue growth of 10%, up from its prior forecast of 8%. This marks the second consecutive quarter that the company hiked its revenue forecast without updating its earnings guidance. Pepsi still expects core constant currency earnings per share growth of 8%.