PepsiCo, Inc. (NASDAQ: PEP) shares climbed more than 4% intraday after the company reported fourth-quarter results that exceeded analyst expectations on both earnings and revenue.

The beverage and snack maker posted adjusted earnings per share of $2.26, topping the $2.24 consensus estimate, while revenue reached $29.34 billion, above expectations of $28.98 billion.

Organic revenue grew 2.1% during the quarter, reflecting what the company described as a sequential acceleration in both reported and organic growth, supported by improvements in North American and international operations. Reported revenue increased 5.6% year over year, while core constant-currency EPS rose 11%.

PepsiCo reaffirmed its 2026 outlook, projecting organic revenue growth of 2% to 4% and core constant-currency EPS growth of 4% to 6%. The company also announced a 4% increase in its annualized dividend to $5.92 per share, marking its 54th consecutive annual dividend increase.

Regional performance was mixed, with Europe, the Middle East and Africa posting 12% revenue growth, while PepsiCo Foods North America grew 1.5%. The company also introduced a new $10 billion share repurchase program extending through February 2030.