PepsiCo profit gets a bump as charges fade, but sales slip after repeated price hikes

News Snapshot:

PepsiCo got a bump to fourth quarter profits thanks in part to lower charges and continued price hikes, but higher prices have weakened consumer demand for the company's snacks and drinks. The New York company said Friday that it expects organic revenue growth of at least 4% this year, less than half the 9.5% growth that PepsiCo booked in 2023. Advertisement Shares dropped 1% before the opening bell 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. Advertisement For the three months ended Dec....