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 expects a low-single digit increase for fiscal 2025 core earnings per share, compared with analysts' estimates of a 4.73% rise to $8.53 per share, according to data compiled by LSEG. Its net revenue fell to $27.78 billion in the quarter from $27.85 billion a year earlier, while analysts had estimated $27.89 billion.

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