PepsiCo Inc beat quarterly revenue and profit estimates on Thursday, as ramped u...
FILE PHOTO: Bottles of Pepsi are pictured at a grocery store in Pasadena, California, U.S., July 11, 2017. REUTERS/Mario Anzuoni/File Photo
Shares rose 3% to $138 in light premarket trading, as the company said it expects to meet or exceed its fiscal 2019 organic revenue growth target of 4%. PepsiCo’s advertising and marketing expenditure has jumped 12% so far this year as the company has splurged on new ads for its trademark Pepsi beverages, rounding off with a campaign centering around the National Football League’s 100th anniversary.
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