PepsiCo Inc. surpassed analyst estimates for quarterly revenue and profit on Thursday, citing demand for its healthy snacks, sodas and Gatorade energy drinks, according to a Reuters report. Fourth-quarter revenue was driven by snacks as well as double-digit net revenue growth in premium brands, such as Bare and Off the Eaten Path.
North American beverage sales rose 4%, while snacks — under the Frito-Lay North America segment — rose 3%. Organic revenue, which doesn’t include the effects of currency fluctuations and acquisitions, increased 4.3%, the fastest rate of growth since 2015.
Organic revenue is expected to rise 4% for the year following a 4.5% gain in 2019. For the fourth quarter ended Dec. 28, net revenue increased 5.7% to $20.64 billion, surpassing the $20.27 billion estimate.