Pepsi is making more money because they made their drinks cost more, even though they sold less stuff, according to their report for the third quarter.
Pepsi, the company known for snacks and drinks, said they increased the prices of their products by an average of 11% worldwide.
This helped them make more money than people expected, even though they sold 2.5% less stuff.
Their total sales for the third quarter went up by almost 7%, reaching $23.45 billion.
Because of this, Pepsi now thinks they’ll make even more money for the whole year, which is the third time they’ve said that in a row.
They expect to make $7.54 for every share, which is more than the $7.20 per share they first said in February.
PepsiCo’s shares also went up by almost 2% before the stock market opened.
Just like other food companies, Pepsi raised their prices to deal with prices going up for everything.
But there’s some good news for people in the US – the prices of groceries didn’t go up by much in August, only 0.2% for the whole month.
We’ll find out more about how prices are changing in September in a few days.
Pepsi mentioned that they sold more Gatorade, Bubly sparkling water, and sodas in North America.
They also have plans to bring back Baja Blast, a soda that people love, in three different types, including one with no sugar.
And, soon, you’ll see Pepsi’s new logo on their stuff.
They showed it to everyone in March, and now it’s going on their products.
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