Coca-Cola has invested money in the innovation of its classic Colas products. The one-year revision of the Diet Coke brand, launched in January, has helped the company regain positive volume growth in North America.
Meanwhile, Pepsi is also working on reversing its popular Gatorade brand of sales and trajectories for the sports drink, recently launching Gatorade Zero, a non-carbohydrate version.
The Pepsi stock is light in pre-trading
Pepsi seeks to balance its newer trend drinks with the support of its profitable, but slower-growing core carbonated beverage business, such as its flagship Pepsi-Cola, Thursday saw a range of healthier and trendier drinks, including Drinkfinity and Lipton Iced Tea with a shot of juice.
In the quarter ended March 24, Pepsi's net income increased to $ 1
Excluding items, the company earned 96 cents a share, which was better than expected.  Total revenue increased 4.3 percent to $ 12.56 billion, exceeding $ 12.4 billion
Organic revenue growth, excluding the effects of currency exchange, increased by 2.3 percent.
The snack division Frito-Lay North America continues to grow unit reporting revenue growth of 3 percent.
However, the profitability of the division was impacted by cost inflation as rising freight and raw material costs degenerated into margins. Pepsi said she partially offset these costs by lowering her advertising and marketing spend.
Internationally, Pepsi recorded strong growth of 14 percent and 15 percent, respectively, in Latin America and sub-Saharan Africa.
Pepsi reiterated its forecast for 2018. For the full year, organic sales growth of at least 2.3 percent is expected – the 2017 growth rate. It expects core earnings per share of $ 5.70, an increase of 9% over 2017.