PepsiCo reported first quarter earnings and revenue exceeding expectations. The company, maker of brands like Doritos and Lay’s, saw improvements across its snack business.
Recent strategic moves, including price cuts of up to 15% on Lay’s, Doritos, and other snack brands in February, contributed to an 8.5% revenue jump.
These price reductions, alongside the introduction of new products, boosted demand for PepsiCo’s snacks. The company noted that these steps to revitalize its snacks business are beginning to show positive results.
Overall, PepsiCo’s performance indicates a positive start to the year, with higher profit and revenue figures reported for the first quarter.