Lockdown living drives solid PepsiCo results

PepsiCo is sounding a note of optimism Thursday - as it bets on consumer lifestyles returning to normal as economies reopen and more people get vaccinated.

The soft drink and snacks conglomerate has fared better than its bigger rival Coca-Cola, when it comes to navigating through the health crisis.

Pepsi reported a bigger-than-expected jump in fourth-quarter sales on Thursday, with stay-at-home consumers stocking up on the company's snacks like Tostitos and Cheetos.

Sales of the Gatorade sports drink were also pretty solid.

In order to meet a surge in demand, Pepsi last year launched a direct-to-consumer website that offers special flavors and specialized bundles of its top selling products.

A move that is paying off by helping to offset the plunge in its foodservice business, that's the unit that caters to restaurants, movie theaters and vending machines - making it the most vulnerable amid the health crisis.

Pepsi beat profit forecasts for the quarter.