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PepsiCo expects revenue to grow in 2021, beats Q4 estimates

Feb 11 (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)

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