While PepsiCo did not say how the virus was directly affecting its business, government lockdown orders around the world have triggered an unprecedented surge in demand for food and beverage products in recent weeks. PepsiCo’s net revenue rose 7.7% to $13.9 billion in the quarter ended March 21, beating analysts’ estimates of $13.21 billion, as a massive advertising campaign during the Super Bowl helped boost sales of its sodas and snacks. Excluding one-time items, Pepsico earned $1.07 per share, beating estimates of $1.03, according to Refinitiv IBES data. …read more
Source:: Yahoo Finance
