PepsiCo's beverage biz bounces back as new CEO takes over from Indra Nooyi

In the quarter, Pepsi's key drinks business got a boost from core brands including Pepsi, Mountain Dew and Gatorade

Indra Nooyi is stepping aside amid signs of a turnaround in PepsiCo Inc.’s drinks business.
 

The company’s struggling North American beverage unit returned to growth in the third quarter, helping the company beat earnings estimates as the longtime chief executive officer hands the reins to deputy Ramon Laguarta on Wednesday. The maker of Mountain Dew and Tostitos also got a boost from its Frito-Lay unit, the salty-snack powerhouse that has buoyed the company amid a drop in soda consumption.

Core earnings per share were $1.59, topping the consensus estimate from analysts. Revenue of $16.5 billion also outpaced expectations. However, Pepsi