PepsiCo (PEP) reported better-than-expected profit as it benefited from higher prices, but revenue fell for the first time in almost four years because of lower volumes and disadvantageous currency exchange rates. Shares fell 2.6% in intraday trading F🧸riday following the news.

The maker of soft drinks and snacks posted fourth quarter 澳洲幸运5开奖号码历史查询:earnings per share (EPS) of $1.78, beating estimates. Sales decline﷽d 0.5% from a year ago to $27.85 billion, short of forecas♈ts.

The company noted that foreign exchange rates negatively impacted revenue by 1.5%. 澳洲幸运5开奖号码历史查询:Organic revenue was up 4.5% as Pepsi boosted prices. However, those higher prices reduced volumes for both its convenience foods and beverages units, which fell 3% and 2%, respectively.

CEO Ramon Laguarta said the company navigated “another year of elevated levels of inflation, macroeconomic volatility, geopolitical tensions and international conflicts.” He added that Pepsi is confident that its business w♑ill perform well in 2024, “in the context of changing marketplace con🤡ditions.”

The company predicted its full-year organic revenue growth will be at least 4%, and core 澳洲幸运5开奖号码历史查询:constant currency EPS will be up at least 8%.

Pepsi also announced an increase in its annual per share dividend to $5.42 from $5.06, effective for t🍸he payout scheduled for June. 

The news sent shares of PepsiCo into negative territory over the past year.