PepsiCo Inc. on Wednesday raised its annual forecasts for revenue and profit on the back of fresh price increases for its sodas and snacks to battle runaway costs while signaling resilient demand.
Shares rose 4 percent after the company also beat third-quarter estimates that comes amid gloomy expectations for corporate results due to surging inflation and rising interest rates. Rival Coca-Cola, set to report on Oct. 25, advanced 2 percent.
