PepsiCo's earnings topped Wall Street's estimates, but the company's revenue missed expectations. Demand for its snacks and drinks declined in North America.PepsiCo reported mixed quarterly results on Tuesday as demand for its snacks and drinks fell in North America for the fifth straight quarter.

PepsiCo's revenue declined in the fourth quarter as consumers in North America continued to scale back purchases of Frito-Lay snacks and beverages, the company reported Tuesday. The Purchase, New York-based food and beverage giant posted revenue of $27.

PepsiCo forecast annual profit below expectations and missed quarterly revenue estimates on Tuesday, as the Doritos maker battles weakening demand for its sodas and snacks such as Lay's in the United States,