New York — PepsiCo, grappling with a slumping soda business, has got a boost from its food unit. Strong sales of Frito-Lay chips and Quaker oatmeal helped PepsiCo beat per-share profit estimates by 9 US cents in the second quarter. The results sent the shares up 3% on Tuesday in early US trading. PepsiCo, like rival Coca-Cola, is looking beyond sugary drinks to drive growth as Americans pursue healthier diets. PepsiCo’s latest quarter is another sign that consumers love its salty snacks: chips such as Tostitos and Ruffles have remained popular. Fixing the struggling North American beverage unit remains a top priority for PepsiCo CEO Indra Nooyi. She is facing a resurgent rival in Coca-Cola, which has been spending heavily on advertising, especially on the top brand. "We’re maniacally focused on getting this business back on track," she said on a conference call with analysts. Through Monday, the stock had fallen 10% in 2018, compared with a 3.2% decline at Coca-Cola. Revenue was dow...
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