PepsiCo’s Q2 earnings beat Wall Street expectations despite sluggish U.S. sales

PepsiCo reported better-than-expected earnings and revenue in the second quarter despite sluggish North American sales.

Sales of Frito-Lay and other snacks fell 1% in North America during the April-June period, PepsiCo said Thursday, while beverage sales were down 2% in the region. But sales rose in some other regions, including Latin America and Asia.

Revenue rose less than 1% to $22.7 billion in the April-June period. That was higher than the $22.3 billion Wall Street forecast, according to analysts polled by FactSet.