PepsiCo hikes prices by double digits for the 7th consecutive
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PepsiCo’s revenue rose 7% in the third quarter despite lower demand as the company continued to hike prices.
PepsiCo’s revenue rose 7% in the third quarter despite lower demand as the company continued to hike prices. Pepsi raised prices 11% in the July-September period, the seventh straight quarter that the company has implemented double-digit price hikes. Sales volumes fell 2.5%. The company reported Tuesday that quarterly revenue was $23.4 billion. That was in line with Wall Street’s expectations. Net income for Pepsi, based in Purchase, New York, rose 14% to $3.1 billion, or $2.24 per share, which is better than expected.
PepsiCo’s revenue rose 7% in the third quarter despite lower demand as the company continued to hike prices. Pepsi raised prices 11% in the July-September period, the seventh straight quarter that the company has implemented double-digit price hikes. Sales volumes fell 2.5%. The company reported Tuesday that quarterly revenue was $23.4 billion. That was in line with Wall Street’s expectations. Net income for Pepsi, based in Purchase, New York, rose 14% to $3.1 billion, or $2.24 per share, which is better than expected.
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