Skip to Content

PepsiCo’s second quarter profits jump but customers slow their purchases after years of price hikes

KVIA

AP Business Writer

PepsiCo reported higher-than-expected earnings in the second quarter but acknowledged that after raising prices every quarter for more than two years, customers are not buying as many of its snacks and drinks. PepsiCo said Thursday that North American demand for its Frito-Lay snacks was “subdued” during the quarter as customers become more value-conscious. The company plans to amp up deals and advertising in the second half of this year. PepsiCo said its net income rose 12% to $3 billion, or $2.28 per share. That beat Wall Street’s forecast. Revenue grew less than 1% to $22.5 billion, which was slightly lower than expected. PepsiCo shares fell 2%.

Article Topic Follows: AP National News

Jump to comments ↓

Associated Press

BE PART OF THE CONVERSATION

KVIA ABC 7 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.

Skip to content