PepsiCo (PEP, Financial) saw its stock rise over 1%, closing at $168.97. The company's third-quarter revenue fell 0.6% year over year to $23.32 billion, missing the market expectation of $23.76 billion. However, adjusted earnings per share increased by 5% to $2.31, surpassing the anticipated $2.29.
CEO Ramón Laguarta stated that PepsiCo will focus on stringent cost control to navigate the current low-growth environment effectively. The company maintains its forecast of at least an 8% profit increase for the year when calculated at fixed exchange rates.
