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Pepsi Sales Skyrocket As Biden Recovery Grows

Pepsi announces massive earnings as the Biden-enabled recovery continues.

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Pepsi

Pepsi has announced a massive surge in sales as the U.S. economy continues to reopen.

The company reported that its quarterly earnings are up 20% from a year ago when the pandemic hit under former President Donald Trump.

Pepsi’s stock increased 2% on the good news, raising the company’s value to $209 billion.

“A lot of the things we did through the pandemic, continuing to invest in the business, are now paying dividends now that mobility has increased and consumers are getting out more,” CFO Hugh Johnston told CNBC.

Pepsi reported that their net income was $2.36 billion, or $1.70 per share, up from $1.65 billion, or $1.18 per share, in 2020.

Net sales surged to $19.22 billion, way above the $17.96 billion that was expected.

Across the country, businesses have begun reporting a surge of customers after millions of people received vaccines under the program authorized by President Joe Biden.

 

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