<p>PepsiCo Inc on Wednesday raised its annual revenue and profit forecasts as the soda and snack giant benefits from multiple price increases to blunt rising costs.</p>.<p>The company's shares rose 2.3 per cent in premarket trading as it also beat third-quarter revenue estimates.</p>.<p>Consumers, wrestling with a relentless surge in inflation, are eating more at home than at restaurants as they cut back on discretionary spending. A trend that has benefited U.S. packaged food makers like PepsiCo that offer everything from snacks to sports drinks.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/business-news/wipro-q2-net-profit-drops-96-to-rs-26491-crore-1152961.html" target="_blank">Wipro Q2 net profit drops 9.6% to Rs 2,649.1 crore</a></strong></p>.<p>A near duopoly in the carbonated drinks market with Coca-Cola has helped PepsiCo raise prices with little push back while its strong market position in snacks has also buffered the company.</p>.<p>PepsiCo said it expects 2022 organic revenue to rise 12 per cent, compared to a prior forecast of a 10 per cent increase. PepsiCo had raised its revenue expectations in April and July.</p>.<p>The company said it expects fiscal 2022 core constant currency earnings per share of about $6.73, compared to its previous forecast of $6.63.</p>
<p>PepsiCo Inc on Wednesday raised its annual revenue and profit forecasts as the soda and snack giant benefits from multiple price increases to blunt rising costs.</p>.<p>The company's shares rose 2.3 per cent in premarket trading as it also beat third-quarter revenue estimates.</p>.<p>Consumers, wrestling with a relentless surge in inflation, are eating more at home than at restaurants as they cut back on discretionary spending. A trend that has benefited U.S. packaged food makers like PepsiCo that offer everything from snacks to sports drinks.</p>.<p><strong>Also Read | <a href="https://www.deccanherald.com/business/business-news/wipro-q2-net-profit-drops-96-to-rs-26491-crore-1152961.html" target="_blank">Wipro Q2 net profit drops 9.6% to Rs 2,649.1 crore</a></strong></p>.<p>A near duopoly in the carbonated drinks market with Coca-Cola has helped PepsiCo raise prices with little push back while its strong market position in snacks has also buffered the company.</p>.<p>PepsiCo said it expects 2022 organic revenue to rise 12 per cent, compared to a prior forecast of a 10 per cent increase. PepsiCo had raised its revenue expectations in April and July.</p>.<p>The company said it expects fiscal 2022 core constant currency earnings per share of about $6.73, compared to its previous forecast of $6.63.</p>