"This should benefit the foodservice channel as and when travel, lodging, dining, education, and entertainment trends accelerate."
PepsiCo said it expects the North American beverage business to "perform well" and the snack unit to "remain resilient." The company, however, stuck to its organic revenue growth and earnings forecast for the year.
Sales of snacks under the company's Frito-Lay North America unit rose 4% in the quarter ended March 20, while those of sodas and other beverages rose 5% in North America, its biggest market.
Net revenue rose 6.8% to $14.82 billion, above analysts' average estimate of $14.55 billion, according to IBES data from Refinitiv.
Net income attributable to the company rose to $1.71 billion, or $1.24 per share, from $1.34 billion, or 96 cents per share, a year earlier.
(Reporting by Nivedita Balu in Bengaluru; Editing by Arun Koyyur)
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