PepsiCo forecasts weak annual profit as price hikes, inflation weigh on demand

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The company said it expects fiscal 2023 core constant currency earnings of $7.20 per share

Ananya Mariam Rajesh, Reuters News

February 9, 2023

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PepsiCo Inc on Thursday forecast annual profit below analysts' estimates, signaling that multiple price hikes were beginning to dampen demand for its sodas and snacks amid a cost-of-living crisis.

The company said it expects fiscal 2023 core constant currency earnings of $7.20 per share, compared with estimates of $7.28, according to IBES data from Refinitiv. (Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Shounak Dasgupta)

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