PepsiCo lowers revenue forecast as sales growth weakens

PepsiCo lowered its organic revenue forecast for the year after U.S. consumers continued to pull back on its snacks and drinks. The company said Tuesday it now expects its organic revenue -- which is adjusted for foreign currency exchanges and the impact of product acquisitions or divestments – to see a low single-digit increase for the year. It had expected an increase of 4%. PepsiCo said its revenue was flat in the third quarter, at $23.3 billion. Wall Street had expected revenue of $23.8 billion, according to analysts polled by FactSet.