BENGALURU — PepsiCo reported a better than expected profit for the second quarter, helped by lower raw material costs as well as strong demand for Frito-Lay snacks and new beverages in North America.PepsiCo’s shares rose 2.2% in premarket trading after the maker of Pepsi, Gatorade and Tropicana also raised its adjusted profit forecast for the year.New drinks such as Propel flavoured water and Naked Cold Pressed juice, and snacks under its "Simply" brand helped drive sales, the company said.PepsiCo’s cost of sales fell 6% in the three months ended June 11.That helped net income attributable to PepsiCo increase 1.3% to $2.01bn, or $1.38 per share.Excluding items, the company earned $1.35 per share, beating the average analyst estimate of $1.30, according to Thomson Reuters I/B/E/S.Net revenue fell 3.3% to $15.395bn, but inched past the average analyst estimate of $15.37bn.Net revenue in the North America Beverages unit, PepsiCo’s biggest business, rose 1% — the slowest growth since th...
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