PepsiCo's revenue fell slightly in the fourth quarter as North American consumers continued to pull back on purchases of Frito-Lay snacks and drinks. The Purchase, New York, company reported revenue of $27.

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 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,