PepsiCo’s results beat as lockdowns boost snack sales – ZAWYA

PepsiCo’s results beat as lockdowns boost snack sales – ZAWYA

PepsiCo's results beat as lockdowns boost snack sales | ZAWYA MENA Edition HomeMarketsEquitiesArticlePepsiCo's results beat as lockdowns boost snack sales Net income attributable to the company fell to $1.65bln    The Pepsi logo is pictured in Irwindale, California, U.S., July 11, 2017. PepsiCo Inc beat analysts' estimates for quarterly revenue and profit on Monday, as people stocked up on its snacks including Tostitos, Cheetos and Doritos before hunkering down in their homes due to coronavirus-related restrictions.The company's shares, which are down 1.6% to date in a tumultuous year for Wall Street, were up about 2% before the bell as investors shrugged off a fall in sales of its sodas due to widespread restaurant closures."Consumer eating habits continued to evolve, with consumers spending more time at home, which benefits the at-home breakfast, snacking and dinner occasions," Chief Executive Officer Ramon Laguarta said in pre-recorded remarks.The company's shares, which are down 1.6% to date in a tumultuous year for Wall Street, were up about 2% before the bell as investors shrugged off a fall in sales of its sodas due to widespread restaurant closures.PepsiCo Inc beat analysts' estimates for quarterly revenue and profit on Monday, as people stocked up on its snacks