PepsiCo (PEP 0.28%) reported earnings before the opening bell on Wednesday. Here's what you need to know about the company's results.

Solid earnings growth
The beverage and snack food giant's second-quarter profits came in at $1.32 per share, $0.09 more than analysts had pegged. Analysts expected EPS to come in at $1.23. Global snack food and beverage volumes both rose 1% from a year ago. PepsiCo's second-quarter sales of $12.89 billion were up 0.5% from the year-ago quarter. Shares of the salty snack and beverage maker were up more than 4% in early trading.

Satisfying salty-snack and international sales growth
Americans drink less soda than they did a decade ago, a growing problem for carbonated beverage manufacturers. PepsiCo's carbonated soft drink volume in North America fell 2% in Q2, one day after rival Coca-Cola said its North American soda volumes were flat in the quarter.

While PepsiCo isn't immune to the declining soda consumption trend, it derives more than half of its revenues from its snack-food business, which makes up two-thirds of the company's revenue growth.

Its Frito-Lay North America and PepsiCo Americas Food divisions saw organic revenues grow 2% and 4%, respectively. PepsiCo's important developing and emerging markets posted 8% organic revenue growth, with particularly strong growth in China, Brazil, Russia, Thailand, Egypt, and the Philippines. 

Looking ahead
PepsiCo now anticipates full-year 2014 EPS of roughly $4.53, up 8% year over year versus a prior forecast of 7% growth. The company also reaffirms revenue guidance of growth in the mid-single digits versus 2013, based on the strength of year-to-date results and its outlook for the rest of the year. 

The maker of Doritos, Tropicana, and Gatorade expects productivity savings of roughly $1 billion for the full-year 2014. PepsiCo reaffirmed that it would return $8.7 billion to shareholders in 2014 through $5 billion in share repurchases and $3.7 billion in dividends. Its stock currently pays a dividend yield of 2.9%. 

Foolish takeaway
PepsiCo's recent quarterly earnings results show that the beverage and snack food maker boasts plenty of attractive long-term growth opportunities. For the patient investor, PepsiCo holds a great deal of promise.