PepsiCo Surpasses Expectations, Raises Earnings Forecast

PepsiCo reported better-than-expected earnings and revenue for the third quarter, leading to a 2% increase in its shares. The company also raised its full-year earnings outlook, expecting constant currency earnings per share growth of 13%. While PepsiCo's net sales rose 6.7% and organic revenue climbed 8.8%, its volume continued to decline due to price hikes aimed at offsetting inflation. However, there were positive performances in certain areas, such as Gatorade's double-digit revenue growth and Quaker Foods North America's volume increase.