PepsiCo hikes revenue forecast as soda demand jumps

As more people venture out to theaters and restaurants amid the lifting of restrictions, they’re consuming more sodas and snacks. And that’s boosting sales at PepsiCo.

The beverage and snacks giant raised its revenue forecast Tuesday. It now expects organic revenue to rise about 8% in fiscal 2021.

Although higher distribution costs bit into its attributable income, PepsiCo expanded its top line nearly 12% in the latest quarter. The popularity of its Mountain Dew soft drink and brisk sales at food-service joints drove revenue sharply higher at its beverage business in North America.

And while people are spending less time at home, they’re still snapping up snacks, boosting revenue at Frito-Lay.

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