PepsiCo reported its quarterly earnings, revealing a revenue of $27.78 billion, which is a 0.24% decrease year-over-year and falls short of estimates by $106 million. The company's earnings per share (EPS) stood at $1.96, reflecting a 10.11% increase year-over-year, beating expectations by $0.02. However, PepsiCo forecasted annual profits below market expectations, attributing this to declining demand for its beverages and snacks in the U.S., its largest market. The company indicated that inflation and a shift in consumer preferences towards healthier snacks are impacting its sales. Meanwhile, Mondelez International announced its quarterly earnings with a revenue of $9.60 billion, which is a 3.11% increase year-over-year but missed estimates by $56 million. Its EPS of $0.65 was in line with expectations but represented a 20.73% decline year-over-year. Mondelez also faces challenges due to rising cocoa prices, which are expected to affect profits in the upcoming fiscal year.