October 3, 2019 / 10:06 AM / 2 months ago

PepsiCo quarterly revenue beats on advertising push

Oct 3 (Reuters) - PepsiCo Inc beat quarterly revenue estimates on Thursday, as ramped up advertising boosted demand for the company’s sodas and snacks.

Net revenue rose 4.3% to $17.19 billion in the third quarter ended Sept. 7, beating analysts’ estimates of $16.93 billion, according to IBES data from Refinitiv.

Net income attributable to the company fell to $2.10 billion, or $1.49 per share, from $2.50 billion, or $1.75 per share, a year earlier.

PepsiCo also said it expects to meet or exceed its fiscal 2019 organic revenue growth target of 4%. (Reporting by Uday Sampath in Bengaluru; Editing by Sriraj Kalluvila)

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