[New York Focus Stock] PepsiCo Rises on Strong Q4 2023 Earnings

PepsiCo's share price rose, which is analyzed as being due to strong fourth-quarter results last year.

On the 3rd (local time), PepsiCo closed at 162.85 dollars, up 7.65 dollars (4.93%) from the previous trading day. In after-hours trading, the stock was slightly down.

The rise in PepsiCo's share price appears to be due to its solid fourth-quarter performance last year. In the fourth quarter of last year, PepsiCo reported adjusted earnings per share (EPS) of 2.26 dollars, beating the market forecast of 2.24 dollars. Revenue came in at 29.34 billion dollars, exceeding the market expectation of 28.98 billion dollars. The company projected this year's revenue growth rate at 2% to 4%, and EPS growth at 4% to 6%.

PepsiCo raised its annual dividend by 4%, from 5.69 dollars per share to 5.92 dollars per share. This marks 54 consecutive years of dividend increases. The company also announced a new share repurchase program of up to 10 billion dollars through February 2030.

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