PepsiCo announced Thursday that its net revenue rose 10.4% in the second quarter of the year to $22 billion. With operating profits at $3.7 billion, the company reported that its net income increased to $2.8 billion in the three months to June 17.
Meanwhile, diluted net income attributable to PepsiCo per common share stood at $1.99, 93% higher than the same quarter last year. For fiscal 2023, the company now forecasts organic revenue growth of 10% versus 8% in a previous report and core EPS growth in constant currency of 12%, better than 9% in a previous financial statement.
"Our strong performance and the progress we are making on our strategic priorities give us confidence that the investments we are making to become an even Faster, even Stronger, and even Better organization by Winning with pep+ are working," Chairman and CEO Ramon Laguarta said.
The company's shares rose 1.66% in pre-market hours at 6:11 am ET to sell for $186.21.
