PepsiCo profit gets a bump on fewer charges, but sales slip after repeated price hikes
PepsiCo got a bump to fourth quarter profits thanks in part to lower charges and continued price hikes, but higher prices have hit sales. The food and drinks company said Friday that it expects organic revenue growth of at least 4% this year. That is less than half the 9.5% growth that PepsiCo booked in 2023. The company's stock dropped closed Friday down 3.6%, even as the company announced a 7% boost to its annual dividend, and said that it would buy back about $1 billion of its shares.