PepsiCo Inc. reported the fastest sales growth in at least a decade and raised its forecast, benefiting from thirsty consumers returning to restaurants, bars and stadiums and others diving into bags of chips.
Second-quarter revenue rose 13% on an organic basis, which excludes acquisitions and currency changes, reaching $19.2 billion, the company said Tuesday in a statement. Analysts expected $17.9 billion on average, according to the estimates compiled by Bloomberg.
The results show how far PepsiCo is down the road to recovery, with North American businesses bouncing back and millions of consumers venturing out again. The pandemic upended consumption habits, with packaged food benefiting from a brief surge in demand while away-from-home eating slowed during temporary lockdowns.