PepsiCo on Tuesday reported a 2.4% revenue growth for the second quarter of 2018 to $16.09bn.

However, the results did not mirror the performance of its North American Beverages unit, its largest segment, which declined by 1% to $5.1bn.

The firm’s North American beverages unit has been posting declining sales for four consecutive quarters (since third quarter of 2017), a worrisome trend for the soda giant to consider operating it as a separate unit or spinning it off into a stand-alone public entity or do what its main rival Coca-Cola has done by refranchising them to multiple franchisees.