The snack and beverage manufacturer PepsiCo reported revenues of $16.200 billion, approximately €15.175 billion, in its first fiscal quarter, which ended on March 19, representing a 9,3% increase compared to the same period of the previous year (13,7% organically).
Similarly, net income soared 148% to $4.261 billion, approximately €3.991 billion, compared to the same period last year.
Growth categories
“ The results reflect our presence in global growth categories and the investments we have made to become a faster and even stronger company ,” says PepsiCo President and CEO Ramon Laguarta, adding that inflation also played a role.
Snack sales in North America totaled $4.839 billion (€4.533 billion), up 14,2%, while soft drink sales totaled $5.353 billion (€5.014 billion), representing a year-on-year increase of 5,5%. Furthermore, the North American turnover of Quaker Foods, a subsidiary specializing in cereals, grew 10,3% to $713 million (€668 million).
In Europe, PepsiCo's activity generated revenues of 1.797 million euros (1.683 million euros), an increase of 0,1%, while in Latin America sales increased by 18,6%, totaling 1.474 million dollars (1.381 million euros).
On the other hand, the company's business in Asia-Pacific, Australia and New Zealand generated $1.020 billion (€955 million), an increase of 8%, while in Africa, the Middle East and Southeast Asia sales improved by 13,7%, to $1.004 billion (€940 million).
Perspectives
The company expects organic revenue growth of 8% for the full year, improving on previous forecasts that pointed to a 6% increase.
