Dive Brief:

• PepsiCo reported net income of $1.91 billion in the third quarter, a rise of less than 1% from $1.90 billion a year earlier. Not including one-time items, the company earned $1.24 a share, beating analysts' forecasts of $1.17 a share.
• Beverage volume fell 4% in the quarter. Sales volume of snack foods from the company's Frito-Lay unit rose 3%.

Dive Insight:

PepsiCo's earnings are better than expected—beating what analysts had expected. The results also are similar to those of rival Coca-Cola, which on Tuesday reported a 2 rise in volume and a 6 percent rise in net income. Both companies report difficulties in selling soda in the United States. Coke sees growth opportunities overseas, whereas PepsiCo seems to be seeking growth in non-beverage sales.