New Delhi, July 10 -- PURCHASE, N.Y. - PepsiCo on Thursday posted second-quarter net revenue of $24.18 billion, a 6.4 percent increase from a year earlier that beat Wall Street's consensus estimate of roughly $23.95 billion, according to the company's Form 8-K filing with the SEC. But the result came with a warning. Chief Executive Ramon Laguarta said the U.S. consumer is "worse than what we had anticipated," a deterioration he attributed mainly to gas prices, and the company's North American food business registered negative organic revenue growth for the period.

Core earnings per share reached $2.20, a 4 percent increase year-on-year but a penny below the analyst forecast of $2.21. Core operating margin contracted 40 basis points to 16...