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PepsiCo lifts annual forecasts again on price hikes, steady demand

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PepsiCo Inc on Thursday raised its annual revenue and profit forecasts for the second time, banking on resilient demand for its snacks and beverages as well as price hikes.

Pepsi soda is shown on display in Compton, California, U.S., January 10, 2017. REUTERS/Mike Blake/File Photoon Thursday raised its annual revenue and profit forecasts for the second time, banking on resilient demand for its snacks and beverages as well as price hikes.

Average price of 192 ounces of PepsiCo's soda in the U.S. rose to $8.68 in 2022 from $7.57 in 2021, according to NielsenIQ's data. It was $9.83 as of June 17 this year. But volumes slipped 4% in the unit, signaling consumers were becoming mindful about spending on sodas.

 

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