Earnings ended the quarter at 89 cents per share, excluding certain items, the New York company said via a statement. Analysts had estimated that profit would be 81 cents per share.
Sales were down 2.9% to end the quarter at $11.9 billion, which matched the average projection on Wall Street.
With the U.S. dollar remaining strong, sales abroad have been hurt, but the Frito-Lay division of PepsiCo bolstered results for the quarter. Sales in that unit, which makes Cheetos, Doritos, as well as Lay’s chips, were up 3% to over $3.42 billion.
The division was helped by an increase in its average pricing of over 2.5%.
CFO Hugh Johnston on Monday said that he is expecting the domestic business of PepsiCo to continuing balancing out the emerging markets weakness with their struggling economies.
PepsiCo kept its earnings forecast of $4.66 per share for the current year, excluding certain items. Wall Street has estimated $4.71 per share.
In early morning trading on Monday, PepsiCo shares were little changed. The stock has increased 3.9% during 2016.
Net sales for PepsiCo’s North America Beverages division were up 1.5% to end that quarter at $4.36 billion. The company has increased offerings “better for you,” to appeal towards customers worried about if flagship products.
PepsiCo has eliminated aspartame from its Diet Pepsi products and it announced a new partnership with BarFresh Food, a smoothie maker.
In March, the company released its most recent new brand of soda and opened a restaurant in New York as well as an event space during January to boost its image with millennials in love with crafts.
The company’s net revenue of its international units of PepsiCo included a drop of 9.2% in the region of Europe and Sub-Saharan.
The new revenue for the Asia, Middle East and North Africa region rose by 1.3% or more than $1.07 billion.
Sales in Latin America were down by 26% to end the quarter at $1.04 billion.