Prudential Financial Reports Higher Q4 Profit on Strong Underwriting and Investment Gains 
Nikkei 225 Hits Record High Above 56,000 After Japan Election Boosts Market Confidence 
SpaceX Prioritizes Moon Mission Before Mars as Starship Development Accelerates 
Oil Prices Slip as U.S.-Iran Talks Ease Middle East Tensions 
Nvidia, ByteDance, and the U.S.-China AI Chip Standoff Over H200 Exports 
FDA Targets Hims & Hers Over $49 Weight-Loss Pill, Raising Legal and Safety Concerns 
Sony Q3 Profit Jumps on Gaming and Image Sensors, Full-Year Outlook Raised 
Gold and Silver Prices Rebound After Volatile Week Triggered by Fed Nomination 
SpaceX Pivots Toward Moon City as Musk Reframes Long-Term Space Vision 
Japan Economy Poised for Q4 2025 Growth as Investment and Consumption Hold Firm 
Indian Refiners Scale Back Russian Oil Imports as U.S.-India Trade Deal Advances 
Asian Currencies Stay Rangebound as Yen Firms on Intervention Talk 
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies 
South Africa Eyes ECB Repo Lines as Inflation Eases and Rate Cuts Loom 
Amazon Stock Rebounds After Earnings as $200B Capex Plan Sparks AI Spending Debate 
Washington Post Publisher Will Lewis Steps Down After Layoffs 
PepsiCo posted net revenues of $70.37 billion for 2020, rising 4.8 percent on-year.
For the fourth quarter ended Dec. 26, the company's net revenue rose 8.8 percent to $22.46 billion, surpassing a market expectation of $21.8 billion.
However, the company's 2020 operating profit of $10.08 billion represents a 2 percent decrease compared to last year’s $10.29 billion figure.
PepsiCo's Asia Pacific, Australia, New Zealand, and China enjoyed a 24 percent increase in its operating profit, accounted for in part by 18 percent growth in net revenue.
The company's Africa, Middle East, and South Asia unit's net revenue was up 25 percent, but its operating profit slumped 11 percent due to operating cost increases.
Meanwhile, PepsiCo Beverages North America recorded an 11 percent decrease in operating profit, due partly to an organic volume decrease of 1.5 percent.
According to PepsiCo Chairman and CEO, Ramon Laguarta, the company ended 2020 on a strong note with its global beverage business accelerating as its snacks and food business remained resilient in the fourth quarter.
Laguarta attributed its results to a diversified portfolio, agile supply chain and go-to-market systems, and strong marketplace execution, and highly dedicated employees.
PepsiCo Inc expects a mid-single-digit rise in annual organic revenue and a high-single-digit increase in adjusted earnings in 2021 if COVID-19 vaccinations roll out and bring back consumers return to pre-pandemic lifestyles as economies reopen.
Rival Coca-Cola also forecasts organic revenue to increase this year.
