Revenue rose more than 10% to $28 billion.
That was better than the $26.8 billion Wall Street had forecast, according to analysts polled by FactSet.
Pepsi says consumers have been resilient so far in the face of higher prices, and continue to gravitate toward familiar brands like Doritos and Cheetos. Newer drinks, like the recently reformulated Pepsi Zero Sugar, are also pulling in customers. Pepsi Zero Sugar sales volumes jumped 26% in the fourth quarter, Pepsi Vice Chairman and Chief Financial Officer Hugh Johnston said Thursday in a conference call with investors.
Pepsi’s net income fell 60% to $535 million, largely due to a $1.5 billion impairment charge for its SodaStream brand and other assets.
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