PepsiCo second quarter profits jump, but demand continues to slip

PepsiCo has leaned heavily into price increases over the past two years as its costs for ingredients and packaging rose (AP Photo/Ted Shaffrey, File)

PepsiCo reported higher-than-expected earnings in the second quarter even as customer demand for its snacks and drinks continued to slip.

PepsiCo said North American demand for its Frito-Lay snacks was “subdued” during the quarter.