New York CNN —Price hikes for Pepsi products boosted the company’s bottom line, despite a decline in sales, according to the company’s third-quarter earnings, released Tuesday.
The snack and beverage giant said it increased prices globally by 11% on average, helping nudge revenue higher than analysts’ expectations, despite PepsiCo’s volume falling 2.5%.
Net sales for the third quarter rose nearly 7% to $23.45 billion.
Similar to other food companies, Pepsi has increased prices to mitigate inflation.
Consumers should also expect to see the new Pepsi logo, unveiled last March, on its products soon.
Persons:
Price, there’s, Taco
Organizations:
New, New York CNN, Pepsi, PepsiCo, Gatorade, Taco Bell
Locations:
New York, North America