PepsiCo’s revenue fell slightly in the fourth quarter as North American consumers continued to pull back on its Frito-Lay snacks and drinks.

The food and beverage giant posted revenue of $27.78 billion between October and December, falling short of Wall Street's expectations.

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.

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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,

PepsiCo is also closely watching a longer-term trend toward healthier snacking, Laguarta said. The company isn’t seeing much impact from the growing use of GLP-1 weight loss dru