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PepsiCo moved to a profit in its fourth quarter, getting a boost from a large tax benefit as sales in its Frito-Lay unit North America strengthened.

PepsiCo is reporting better-than-expected third-quarter earnings and revenue, but shares are edging lower after the company warned of the effects that the strong dollar will have on its performance for the rest of the year.

PepsiCo posted a fourth-quarter loss due to comprehensive changes in U.S. tax law, but it topped most expectations when that extraordinary cost is removed.