PepsiCo has lowered its revenue forecast for the year, citing a pullback in consumer spending on snacks and drinks in North America and key international markets. The company reported weaker-than-expected results for the third quarter, with revenue down 1% to $23.3 billion. Despite a 5% increase in earnings per share, the overall performance lagged estimates, leading to a revised outlook for organic growth in 2024. The stock dipped premarket as concerns over softening sales and tightening consumer budgets continue to affect investor sentiment.