KEY POINTS
- 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%.
Source: PepsiCo (PEP) Q2 2022 earnings beat Wall Street estimates
