PepsiCo scraps forecast due to coronavirus crisis
[BENGALURU] PepsiCo reported a rise in first-quarter revenue, but ditched its full-year forecast on Tuesday, citing uncertainty around the globe due to the novel coronavirus pandemic.
The company's net revenue rose 7.7 per cent to US$13.9 billion in the quarter ended March 21, helped by massive advertising campaigns during the Super Bowl.
Net income attributable to the company fell to US$1.34 billion, or 96 cents per share, from US$1.41 billion, or US$1 per share, a year earlier.
PepsiCo had previously forecast full-year organic revenue growth of 4 per cent and an increase in core constant currency earnings per share of 7 per cent.
REUTERS
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