PepsiCo's quarterly profit rose 13 per cent on strength in its international business and price rises on products sold by its North American beverage unit.
The company raised its profit forecast for the full year due to a change in the amount of taxes it expects to pay.
Pepsi said profit in its Frito-Lay North American snack unit was hurt by rising fuel and energy costs. Frito-Lay, which booked $2.26 billion in revenue during the quarter, is the company's largest division.
The company reported first-quarter profit of $912 million, or 53 cents a share, up from $804 million, or 46 cents a share, a year earlier. Analysts' average forecast was 50 cents a share.
The company's international division reported a 20 per cent rise in operating profit in the first quarter, boosted by snack volume growth in emerging markets such as India, China, Russia and Brazil. Foreign exchange rates also contributed to the growth.
The company's beverage business also benefited from Easter falling in the first quarter this year.
The head of the company's North American food and beverage business, Gary Rodkin, recently left PepsiCo and hopes to become chief executive of another company. PepsiCo promoted two executives to replace him.