“We really made a move to pivot towards higher growth.” PepsiCo CFO Hugh Johnston discusses the company’s Q3 earnings.
As investor concern about a coming recession drags down the stock market, the chief financial officer of PepsiCo said Thursday the beverage and snack giant is not seeing any slowdown in consumer spending in its realm.
"I can speak for our business, and what we see is a consumer that really likes our products and is buying them at an increasing rate, so as far as we can tell, the consumer is actually doing just fine right now," Johnston said on CNBC's "The company has been investing more in marketing and advertising this year in a bid to spark sales growth for some of its legacy brands like Gatorade.
The investments have paid off. Shares of Pepsi jumped 3.5% Thursday after the company reported third-quarter earnings and revenue that topped analysts' expectations. Recession fears, triggered by weakening macroeconomic growth, contracting factory activity in the U.S. and trade tensions, dragged down the broader market on Tuesday and Wednesday.Pepsi's stock, which has a market value of $191 billion, is up 24% this year. Rival
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Lionsgate CFO James Barge Renews Contract Through 2023Lionsgate CFO James Barge renews contract through 2023
Read more »
PepsiCo's quarterly profit beats as advertising push pays offPepsiCo Inc beat quarterly revenue and profit estimates on Thursday, as ramped u...
Read more »
PepsiCo stock jumps 3% on earnings and revenue beatPepsiCo said that it expects to meet or exceed its 2019 outlook for organic revenue growth.
Read more »
Morrissey kicks out protester opposing singer's far-right political views at Portland showSinger tells woman holding up placards opposing anti-Islam party, 'We don't need you...go.'
Read more »
BMW's Mini is fighting to stay alive in SUV obsessed AmericaThe tiny car became a cultural legend in the later 20th Century, but it is now doing battle in a market buffeted by low fuel prices and consumer appetite for big vehicles.
Read more »
Stocks making the biggest moves premarket: PepsiCo, Tesla, E*Trade, GoPro & moreThese are the stocks posting the largest moves before the bell.
Read more »