The stock of PepsiCo Inc., PEP, rose by 1.4% Tuesday in premarket trading after the drinks giant beat earnings expectations for the first-quarter despite a decline in profit. Net income for the first quarter of the year was $1.932 Billion, or $1.40 per share. This is a sharp drop from the $4.261 Billion, or $3.06 per share, recorded in the previous period. The adjusted, or core EPS, was $1.50. Revenue increased to $17.846 from $16.200 billion. FactSet’s consensus predicted EPS of $0.38 and revenue $17.239 billion. In the previous period, PepsiCo had sold Tropicana and Naked juice brands, as well as other juice brands, to PAI Partners, for $3.5 billion cash.