PepsiCo Slashes Forecast and Deepens Cost Cuts Amid Slow North American Recovery

PepsiCo lowered its financial outlook and deepened cost cuts, despite reporting upbeat third-quarter earnings.

Food and beverage giant PepsiCo released its third-quarter financial results, financial news outlets Investing.com and Benzinga reported.

According to Benzinga, the company delivered positive third-quarter results. In contrast, Investing.com, citing a report from Reuters, reported that PepsiCo slashed its future guidance and decided to deepen cost-cutting measures across the firm.

The lowered forecast comes against the backdrop of a prolonged and sluggish recovery in the company's North American business. Comprehensive figures regarding the exact scope of the cuts and detailed earnings data have not yet been released.