Pepsi Surges After Raising Annual Forecast with Lift in Revenue
Oct 12, 2022 By MarketDepth
Pepsi Co. (PEP:NYQ) announced they raised their annual forecast after they raised the prices of their products to battle inflation. With the world stuck in the grips of surging inflation companies are raising prices to protect their bottom lines. Pepsi has continuously raised product pricing while still appealing to the consumer.
Pepsi shares are up 4% intraday on the positive news and is on par for the year. Pepsi is on of the consumer staples that has kept their share prices up while other sectors are seeing massive losses in their stock prices.
The company has seen a positive response to raising prices as more consumers shift to eating at home. Pepsi Co has raised there average product pricing by around 17% across the board, which has helped lift the company’s profitability.