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  • PepsiCo (PEP) Q3 2025 earnings

    PepsiCo (PEP) Q3 2025 earnings

    FILE PHOTO: Cans of Pepsi are seen at the PepsiCo Walkers factory in Leicester, Britain, August 14, 2024. 

    Hollie Adams | Reuters

    PepsiCo on Thursday reported quarterly earnings and revenue that beat analysts’ expectations, as international growth offset another quarter of declining volume in North America.

    Here’s what the company reported for its fiscal third quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:

    • Earnings per share: $2.29 adjusted vs. $2.26 expected
    • Revenue: $23.94 billion vs. $23.83 billion expected

    Pepsi reported third-quarter net income attributable to the company of $2.6 billion, or $1.90 per share, down from $2.93 billion, or $2.13 per share, a year earlier.

    Excluding items, the company earned $2.29 per share.

    Net sales rose 2.6% to $23.94 billion. Stripping out acquisitions, divestitures and foreign exchange, Pepsi’s organic revenue increased 1.3% in the quarter.

    However, the Frito-Lay and Gatorade owner is still seeing softer demand for its products. Pepsi’s worldwide volume for both food and drinks fell 1% during the quarter. The metric strips out pricing and foreign exchange changes.

    In particular, Pepsi has struggled in its home market in recent quarters, leading the company to invest back into its brands and to explore cost-cutting measures.

    Pepsi Foods North America, which includes brands like Doritos, Quaker Oats and Pearl Milling, reported that its volume fell 4% in the fiscal third quarter. And Pepsi’s North American beverage unit saw volume shrink 3%, although CEO Ramon Laguarta noted “improved momentum” in the business.

    The company also reiterated its full-year outlook. It still expects its core constant currency earnings per share to be roughly unchanged from the prior year and organic revenue to grow by a low single-digit percentage.

    Pepsi also announced on Thursday that Chief Financial Officer Jamie Caulfield plans to retire. Walmart U.S. CFO Steve Schmitt will succeed him, effective Nov. 10.

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  • ‘I ran 127 miles to say happy birthday to Grandad’

    ‘I ran 127 miles to say happy birthday to Grandad’

    Fern BuckleySouth of England

    Indie Kid Creative A smiling Issy Sedgwick with her grandfather, Ivor. She has long curly hair and is wearing a yellow dress. She is smiling at the camera and has her arm around Ivor's shoulder. Ivor is looking straight ahead, not at the camera. He is wearing a flat cap, tinted glasses, a blue collared shirt and a Navy blue blazer.Indie Kid Creative

    Issy Sedgwick ran for five days to wish her grandfather, Ivor, a happy birthday

    A woman has run 127 miles (205km) from London to Bournemouth to wish her grandfather a happy birthday.

    Issy Sedgwick…

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  • Scientists urged to demand independent governance in Horizon Europe

    The chair of an expert group charged with advising the European Commission on the next Framework Programme for research and innovation has called for a campaign of “scientific activism” to implement independent governance models across the programme.

    The European Research Council (ERC) is “the jewel of the crown” of EU research funding thanks to its independent Scientific Council, which draws up its own work programmes, Manuel Heitor said during a panel on competitiveness through frontier research organised by the ERC and the University of Copenhagen on October 7.

    The former Portuguese research minister was more critical of the collaborative instruments in Horizon Europe and its predecessor, Horizon 2020. The Framework Programme “has become an excellent tool to distribute money, but it is not necessarily the best tool to do science, or to address industrial competitiveness, or to address emerging societal challenges,” he said.

    According to his advisory group’s report, collaborative projects accounted for 78% of funding under Horizon 2020 and involved 11 participants on average, each receiving average funding of €127,000 over approximately three years. The remaining 22% of funds, which mostly support single beneficiaries, have had a greater impact, largely thanks to the ERC’s autonomy, Heitor said.

    He urged the scientific community to speak to citizens and national and EU policymakers to show that the ERC is a “clear example of how to govern the rest of the Framework Programme.”

    His report recommended strengthening the independence of the European Innovation Council and creating two new councils with independent boards, one on industrial competitiveness and technology, and the other on societal challenges, to steer collaborative research. However, this idea was not picked up by the Commission in its proposal for the post-2027 Horizon Europe programme.

    Instead, there are concerns that collaborative research and innovation will come under even closer control by the Commission, which plans to link calls to the funding priorities of the future European Competitiveness Fund.

    It’s also unclear what the push to simplify the EU funding landscape will mean for the ERC. Its president, Maria Leptin, previously expressed concern that plans for a single rulebook to be applied across Horizon Europe and the Competitiveness Fund would restrict the ERC’s flexibility to implement its own processes. However, in a recent interview with Science|Business, Leptin revealed that the ERC had received reassurance from the Commission that it would not fall under a common rulebook.

    In June, before the Commission presented its proposal for the continuation of Horizon Europe, the ERC’s Scientific Council sent a letter to its president, Ursula von der Leyen, and research Commissioner Ekaterina Zaharieva requesting even greater independence and a stable, long-term budget.

    Protecting fundamental research

    During the Copenhagen conference, Denmark’s science minister, Christina Egelund, underlined the importance of “bold investments in innovation,” starting with fundamental research. The Danish presidency “will make sure to bring [Horizon Europe] negotiations forward and not to lose sight of frontier research,” she said.

    This is reflected in the Commission’s proposal for the next Horizon Europe programme, which foresees a significant budget increase for the ERC.


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    The ERC is also at the centre of the EU’s efforts to lure disaffected scientists from the US, but speaking at the conference Leptin insisted there will be no winners from the US government’s budget cuts and assaults on academic freedom.

    “We’re all going to suffer,” she said, pointing to US cuts to climate data stations and model organism databases. “We attract these scientists over, and then we say, sorry, no databases [. . .] There is no benefit to be gained.”

    Until the US situation improves, Europe should offer scientists a “haven,” in a “non-selfish manner,” Leptin said. “If they come and spend half time here, that’s enough, that reinforces collaboration.”

    Lottery funding

    The following day, Copenhagen hosted a life science summit under the Danish presidency of the EU Council, where competitiveness was once again on the agenda.

    Europe needs more fundamental research, but it also needs bold ideas to make public funding more efficient, said Margrethe Vestager, former commissioner for competition and now chair of the board of the Technical University of Denmark.

    “There are so many great ideas for the public funding, and I think it feels like a lottery as to whether you get it or not, so why not make it a lottery?” she said. “Then, if you don’t get funding that year, you can get more points, so you have a better chance the next year.”

    The objective should be to reduce the time and resources required to obtain funding, she added. 

    The Commission has made simplification a priority, and Zaharieva has said it is “exploring” the idea of introducing lottery funding in the next iteration of Horizon Europe.

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  • Even Post-Prime Day, the Teen-Approved Apple AirPods Pro 2 Are Down to Just $170

    Even Post-Prime Day, the Teen-Approved Apple AirPods Pro 2 Are Down to Just $170

    While the rather hectic October Prime Day event is now over, there are still a lot of deals hanging around on all sorts of devices. In fact, you can currently get your hands on plenty of high-end devices, including the Apple AirPods Pro 2, while…

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  • Kenyan coach and marathoner Mary Ngugi-Cooper chasing history in Chicago for the all-girls track club she founded

    Kenyan coach and marathoner Mary Ngugi-Cooper chasing history in Chicago for the all-girls track club she founded

    Mary Ngugi-Cooper marathon mission goes beyond the podium

    Raised in central Kenya, Ngugi-Cooper began running during her primary school games to get away from doing farm work at home. Although she was running barefoot, she still recorded…

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  • Eight UK thatched cottages that define ‘cosycore’

    Eight UK thatched cottages that define ‘cosycore’

    Alamy (Credit: Alamy)Alamy
    (Credit: Alamy)

    Blackhouse thatched cottage in the Hebrides, Scotland

    Many thatched cottages in the Hebrides are simple, single-storey structures called blackhouses or taigh-dubh (their name in Gaelic). The term blackhouse probably derives…

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  • Titanic Sinks Tonight first look

    Titanic Sinks Tonight first look

    Published: 11:00 am, 9 October 2025

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  • The OpenAI Hype Cycle, Microsoft’s Game Pass Failure, Verizon’s Satellites – Stratechery by Ben Thompson

    The OpenAI Hype Cycle, Microsoft’s Game Pass Failure, Verizon’s Satellites – Stratechery by Ben Thompson

    OpenAI’s DevDay evolution mirrors the hype cycle; Microsoft’s Game Pass price raise is an admission of failure; and Verizon decides it doesn’t want to be under the thumb of SpaceX.

    Subscribe to Stratechery Plus for full…

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  • Association of triglyceride-glucose index and its related parameters with the risk of stroke: a meta-analysis | BMC Neurology

    Association of triglyceride-glucose index and its related parameters with the risk of stroke: a meta-analysis | BMC Neurology

    The systematic review and meta-analysis including 21 studies indicated the participants in the highest TyG, TyG-BMI, TyG-WC and TyG-WHtR quartile have an increased risk of stroke compared to the patients with the lowest index category. Subgroup…

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  • DeepMind fixes vulnerabilities, California offers data opt-out, China-Nexus targets open-source tool – CISO Series

    1. DeepMind fixes vulnerabilities, California offers data opt-out, China-Nexus targets open-source tool  CISO Series
    2. Introducing CodeMender: an AI agent for code security  Google DeepMind
    3. Google Will Pay You Rs 25 Lakh If You Find Any Bugs In Its AI…

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