PepsiCo first quarter net income falls on currency hit

PepsiCo Inc reported lower quarterly earnings on Thursday, citing a hit from the devaluation of the Venezuelan currency.

The maker of Pepsi sodas, Tropicana juices, Frito-Lay snacks and Quaker oatmeal said net income was $1.08 billion, or 69 cents per share, in the first quarter, down from $1.13 billion, or 71 cents per share, a year earlier.

Revenue rose about 1 percent to $12.58 billion.

(Reporting by Martinne Geller in New York; Editing by Gerald E. McCormick)