PepsiCo’s Price Hikes, Steady Demand Add Sparkle to Annual Forecast

PepsiCo’s Price Hikes, Steady Demand Add Sparkle to Annual Forecast
Bottles of Pepsi at a grocery store in Pasadena, Calif., on July 11, 2017. Mario Anzuoni/Reuters
Reuters
Updated:
0:00

PepsiCo Inc. raised its annual forecasts on Tuesday after price hikes undertaken to offset higher costs and steady demand helped the soda and snack giant beat first-quarter results.

The results pointed to a resilient consumer and followed similar quarterly performances by rival Coca-Cola and Nestle. PepsiCo’s shares rose 2 percent in early trading.