Investing.com - PepsiCo (NYSE:PEP) reported a better-than-expected quarterly profit as its commodity costs fell and demand for its snacks and beverages rose in North America.
The company also raised its target for 2015 adjusted earnings growth to 9 percent from 8 percent, on a constant-currency basis.
Revenue from the company's North America beverages business rose 4 percent in the third quarter, accounting for a third of its total revenue,
while revenue from its snacks business in the region increased 1 percent.
This is the first time PepsiCo has broken out its North America quarterly beverage sales numbers.
The net income attributable to PepsiCo fell to $533 million, or 36 cents per share, in the quarter ended Sept. 5 from $2.01 billion, or $1.32
per share, a year earlier.