PepsiCo, Inc. (PEP) reported better-than-expected fiscal third-quarter results on the back of top-line growth and cautiously navigating through the volatile supply chain and cost environment. The global food and beverage company recorded adjusted earnings of $1.79 per share in the third quarter, beating the Street's estimate of $1.73 per share. The company reported earnings of $1.66 per share in the same quarter last year. Additionally, adjusted net revenues generated in the quarter amounted to $20.19 billion, topping analysts’ expectations of $19.39 billion. Revenues surged 9% year-over-year. According to the company, investments made towards becoming a faster, stronger and better company remained favorable during the quarter.
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PepsiCo (NASDAQ:PEP)
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