PepsiCo raises annual revenue forecast as soda demand jumps

October 5, 2021

(Reuters) -PepsiCo Inc raised its full-year revenue forecast on Tuesday, as the easing of pandemic restrictions boosts demand for sodas at theaters and restaurants.

Sales in PepsiCo’s North America Beverage unit, the company’s largest business, rose 7% in the third quarter as a reopening economy and the lifting of COVID-19 capacity restrictions encouraged people to return to public venues and drink its sodas.

The company reported double-digit net revenue growth from beverage sales to food-service joints.

The company said it was expecting fiscal 2021 organic revenue to rise about 8%, compared with its prior forecast of a 6% increase. https://bit.ly/3lbvOTj

Net revenue rose 11.6% to $20.19 billion in the third quarter ended Sept. 4, above analysts’ estimates of $19.39 billion, according to IBES data from Refinitiv.

(Reporting by Uday Sampath in Bengaluru; Editing by Anil D’Silva)

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