(Reuters) – PepsiCo Inc said on Thursday it expects organic revenue to grow in 2021 on hopes that consumers would return to pre-pandemic lifestyles as economies reopen and COVID-19 vaccinations roll out.
The company, known for its Lay’s chips and Pepsi sodas, said it expects mid-single digit rise in annual organic revenue and a high-single digit increase in adjusted earnings.
Rival Coca-Cola had on Wednesday forecast organic revenue to rebound this year.
PepsiCo’s net revenue rose 8.8% to $22.46 billion in the fourth quarter ended Dec. 26, above market expectation of $21.8 billion, according to IBES data from Refinitiv.
(Reporting by Nivedita Balu in Bengaluru; Editing by Arun Koyyur)
