PepsiCo reported better-than-expected third-quarter revenue despite lackluster North American demand. Net revenue rose 5.6% to $25.27 billion in the July-September period, topping the $24.95 billion Wall Street expected according to analysts polled by FactSet. The Purchase, New York-based company said global snack food volumes increased 4%, the highest rate of growth since 2021, largely driven by its international business, which makes up 41% of company revenue, with strong World Cup-related demand for Lay's snacks and share gains in key markets like China and Brazil. North American results were weaker, with Frito-Lay snack food volumes flat versus the same period last year and beverage volumes down 2%, as growth in U.S. salty snacks was offset by sales declines in Canada. Net income rose 2% to $2.34, also beating analyst expectations of $2.29.
PepsiCo IncQ3 revenue beat on strong international demand, with 4% global snack volume growth and World Cup-related Lay's demand plus share gains in China and Brazil.
