Frito-Lay Unit Sales Power PepsiCo's Profit
PepsiCo Inc. reported second-quarter revenue and profit that topped Wall Street estimates as higher sales in its Frito-Lay unit in North America helped offset sluggish demand for beverages.
Pepsi's beverages unit, which makes carbonated soft drinks, has been struggling to reverse a four-quarter decline in sales as consumer taste shifts to low-calorie and low-sugar alternatives.
Sales in its North America beverage unit fell about 1% to $5.19 billion in the quarter, the company said, but narrowly beat market expectations.
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