#PepsiCo sees surge in snacks as soft drink sales fizzle

PepsiCo provided an upbeat start to the second-quarter earnings season on Monday.

While revenue at the food and drink giant’s North American beverage division dropped 6.6 percent, to $4.97 billion, thanks in part to restaurant shutdowns, the company saw a positive 6.6 percent surge in its snack division as consumers sheltering in place devoured more of its salty Fritos and Cheetos snacks.

In late-afternoon trading, the stock price climbed 1.3 percent higher, to $136.22.