PepsiCo (PEP) Q1 Earnings Beat Estimates With $19.44B Revenue

AI Summary

PepsiCo (PEP) reported Q1 earnings of $2.33 billion or $1.70 per share, exceeding expectations of $1.55 per share. Revenue rose to $19.44 billion, surpassing estimates of $18.94 billion, with an 8.5% increase attributed to new product launches and price cuts. The North American food segment experienced a volume growth of 2%, marking its first increase in over two years following a 15% price reduction on key products. For the full year, PepsiCo continues to forecast organic revenue growth of 2% to 4% and core earnings per share increase of 4% to 6%.