This represented a decline of seven per cent from the $19.95bn reported in the same period of 2014, but came in ahead of analysts' expectations of $18.51bn.
Profit dipped by four per cent, from $10.58bn to $10.21bn, but the dividend was increased to $0.7025 per share, up from $0.655 in the last quarter of 2014.
The company made gains across its North America divisions, which it partly attributed to lower commodity costs.
However, revenue was down 26 per cent in Latin America, which also saw a 53 per cent reduction in operating profit. The company said this arose "primarily from transaction-related foreign exchange, the fourth-quarter impact of the deconsolidation of Venezuela as well as the net impact of efficiency initiatives".
PepsiCo boss Indra Nooyi said the firm's portfolio has been /;strategically designed to weather the current macroeconomic challenges".
"Our results reflect the balance of our brand portfolio, geographic footprint, consistent marketplace execution and a relentless focus on productivity," Nooyi added.
"While facing the challenges of a choppy macro environment, we continued to make thoughtful investments in our future. By making investments in our brands, product innovation and supply chain, we have fortified our business for sustained growth."