PepsiCo Beats Earnings, Palantir Wins $250M Army AI Deal

PepsiCo reported strong Q3 results, beating earnings expectations and raising guidance. The stock rose about 2%.

Palantir announced a new $250 million AI contract with the U.S. Army, building on an existing partnership. The stock jumped 3%.

PepsiCo's organic sales grew especially fast in Europe, Africa, Middle East, and South Asia.

PepsiCo now expects 13% earnings growth in 2023 and upper end of long-term growth targets in 2024.

Palantir's AI contract win demonstrates effectiveness of its R&D investments in AI/ML.