(Reuters) - PepsiCo ( PEP ) beat Wall Street expectations for first-quarter revenue and profit on Tuesday as demand held steady for the soda and snacks giant's Tropicana juices and Cheetos in its international markets.

Consumers have shelled out money for PepsiCo's ( PEP ) Lays chips and 7UP products across the company's international markets, including Europe, Asia Pacific and China, helping offset a slowdown witnessed in its major market United States.

PepsiCo's ( PEP ) international business accounted for about 40% of its total fiscal 2023 revenue, while its North America beverage unit, Frito Lay and Quaker Foods account for the remaining.

Several rounds of price hikes in the U.S. have led consumers in the region to push back on PepsiCo's ( PEP ) products as longer periods of inflation make customers cautious about spending.

PepsiCo ( PEP ) also maintained its annual organic sales growth forecast of 4% and fiscal 2024 core profit expectation of $8.15 per share.

The company's shares were down 0.5% in premarket trading.

Sales at PepsiCo's ( PEP ) North America beverage unit, its largest business, rose 1% in the first quarter, while organic volumes fell 5%.

Total sales at its Quaker Foods North America unit fell 24% following Quaker product recalls first made in December in the U.S. due to a potential Salmonella contamination.

PepsiCo's ( PEP ) average prices jumped 5% for the quarter ended March 23, while organic volume slipped 2%. That compared with a fall of 4% in organic volume in the fourth quarter of 2023.

The company's net revenue rose 2.3% to $18.25 billion in the quarter, beating LSEG estimates of $18.07 billion.

On an adjusted basis, the company earned $1.61 per share, topping expectations of $1.52.