PepsiCo has released its financial results for Q3, reporting a reduction in profits.

Net revenue for the period reached $23.9 billion, up from Q3 2024’s revenue of $23.3 billion.

Gross profit was reported as $12.8 billion, decreased from $12.9 billion in 2024. Operating profit was $3.5 billion, down from 2024’s $3.8 billion.

PepsiCo said that it continued to expect a low-single-digit increase in organic revenue, and expects its business to “remain resilient for the balance of the year”.

Its international convenient foods business delivered organic revenue growth of 2.5% in Q3 and 3% over the year, and Q3 growth was driven by markets including Mexico, Argentina, Colombia, India, Egypt, Germany, Türkiye, Australia, Pakistan and Vietnam. In the year to date, PepsiCo held or gained savoury snack share in Brazil, Colombia, Guatemala, Puerto Rico, Poland, France, India, Australia and Thailand.

Ramon Laguarta, chairman and CEO of PepsiCo, commented: “Our reported net revenue growth accelerated and reflects the resilience of our international business, improved momentum within North America Beverages and the benefits of our portfolio reshaping actions.

“As we look ahead to the balance of this year and beyond, our top priorities are to accelerate growth and aggressively optimise our cost structure. To accomplish this, we are introducing a strong pipeline of innovation to accelerate portfolio transformation, continuously sharpening our price pack architecture to provide good value to consumers, and right sizing our entire cost base to help fund our activities.

“As a result, for fiscal 2025, we continue to expect to deliver low-single-digit organic revenue growth with core constant currency EPS to be approximately even with the prior year. Our full year core USD EPS outlook has improved due to a more favourable outlook on foreign exchange translation rates for the balance of this year.”