PepsiCo Beats Earnings Expectations Despite Revenue Dip, Plans Share Buyback

The beverage giant forecasts positive growth in 2024, raising its dividend amidst concerns over declining sales volumes.

PepsiCo's fourth-quarter earnings surpassed expectations with a profit increase, despite a slight revenue decline due to lower volumes and unfavorable currency exchange rates.
The company's revenue fell for the first time in nearly four years, primarily due to reduced demand following price hikes.
PepsiCo announced an increase in its annual dividend to $5.42 per share and plans to buy back about $1 billion of its shares.
For 2024, PepsiCo forecasts at least 4% organic revenue growth and an 8% increase in core constant currency earnings per share.
The company's stock experienced a decline following the earnings announcement, reflecting investor concerns over falling sales volumes.