PepsiCo Inc. reported Thursday first-quarter net income that rose to $1.34 billion, or 94 cents a share, from $1.32 billion, or 91 cents a share, in the same period a year ago. Excluding non-recurring items, the beverage and snack giant said core earnings per share came to 96 cents, above the FactSet consensus of 93 cents. The stock edged up 0.8% in premarket trade. Revenue rose 4% to $12.56 billion, below the FactSet consensus of $12.89 billion, as Frito-Lay North America sales growth of 3% to $3.62 billion missed expectations of $3.64 billion but the North America beverages sales decline of 1% to $4.42 billion beat expectations of $4.36 billion. The company said its Frito-Lay, beverages and Quaker Foods business were negatively impacted by cost inflation and higher material costs. Looking ahead, PepsiCo said it expects core EPS growth of 9% to $5.70, compared with the FactSet consensus of $5.71. The stock has tumbled 15.7% year to date through Wednesday, while the S&P 500 has slipped 1.3%.