FILE – In this Thursday, Aug. 18, 2016, file photo, a Pepsi truck delivers products to vendors at the Illinois State Fair in Springfield, Ill. PepsiCo Inc. (PEP) on Wednesday, Feb. 15, 2017, reported fourth-quarter profit of $1.4 billion. (AP Photo/S
PepsiCo reported a 2.4 percent rise in quarterly revenue on Tuesday due to higher sales growth in its Frito-Lay unit in North America that helped offset weak demand for beverages.
Continue Reading Below
Revenue from its Frito-Lay snacks business, the company’s largest, rose 4.3 percent in the quarter.
Sales in its North America beverage unit fell for the fourth straight quarter, down about 1 percent to $5.19 billion, the maker of Gatorade and Diet Pepsi said on Tuesday.
Net income attributable to the company fell to $1.82 billion, or $1.28 per share, in the second quarter ended June 16, from $2.11 billion, or $1.46 per share, a year earlier.
Net revenue rose to $16.09 billion from $15.71 billion.
(Reporting by Aishwarya Venugopal in Bengaluru; Editing by Arun Koyyur)
