Pepsico, Inc. (NASDAQ: PEP) reported Q4 non-GAAP earnings Thursday of $1.67 per diluted share, up from $1.53 a year earlier.
Analysts polled by Capital IQ expected $1.65.
Revenue for the quarter ended Dec. 31 was $28 billion, up from $25.25 billion a year earlier.
Analysts surveyed by Capital IQ expected $26.82 billion.
For 2023, the company is expecting core earnings of $7.20 per share. Analysts surveyed by Capital IQ are expecting $7.30.
The company said it expects a 6% increase in organic revenue for full-year 2023. Total cash returns to shareholders are expected to be $7.7 billion, including dividends of $6.7 billion and share repurchases of $1 billion.
Further, the company raised its annualized dividend to $5.06 per share from $4.60. The increase is effective with the dividend expected to be paid in June.