PURCHASE — The devaluation of Venezuelan currency contributed to a 5% decline in income at PepsiCo, Inc. during the first quarter.

For the quarter ended March 23, the company had income of $1,075 million, equal to 69c per share on the common stock, down 5% from $1,127 million, or 71c per share, during the same quarter of the previous year.  Revenue for the quarter was $12,581 million, up 1% from $12,428 million during the same quarter of the previous year.

“We’re greatly encouraged by the strong start to 2013,” said Indra Nooyi, chairman and chief executive officer. “We delivered solid organic revenue growth and double-digit core e.p.s. growth in the first quarter, driven by our balanced food and beverage product and global geographic portfolio. Our investments in creating this portfolio are paying off and our brand and innovation strategies are driving sustainable top-line growth.

“We are driving increased marketplace execution and making higher investments in marketing and innovation to drive future growth. In the first quarter, our advertising and marketing expense increased by 11% while our core operating margin increased 80 basis points.”

Strength in the Frito-Lay North America and Latin America Foods units offset a decline in Quaker Foods North America, leading to a 6% increase within the PepsiCo Americas Foods unit of PepsiCo, Inc. in the first quarter. At $1,224 million, operating profit for PepsiCo Americas Foods was up from $1,150 million in the first quarter of fiscal 2012. Net revenue in the division increased 5%, rising to $5,124 million from $4,868 million.

Frito-Lay North America, the largest segment within PepsiCo Americas Foods, posted an operating profit of $828 million in the first quarter of fiscal 2013, up 6% from $780 million a year ago. Net revenue also was higher, climbing 4% to $3,123 million from $3,010 million. The unit’s market share in the United States grew in the quarter, reflecting 4% volume growth driven by strategic investments and disciplined execution, PepsiCo said.

First-quarter operating profit at Quaker Foods North America fell to $180 million, down 4% from $187 million a year ago. Net revenue, meanwhile, increased 2% to $634 million from $623 million.

Latin America Foods operating profit was $216 million in the first quarter of fiscal 2013, up 18% from $183 million a year ago. Net sales rose 11% to $1,367 million from $1,235 million.

Operating profit within PepsiCo Americas Beverages totaled $565 million, up 8% from $525 million during the same quarter of the previous year. The segment had revenue of $4,420 million, down 1% from $4,448 million during the same quarter of the previous year.

Looking ahead to the remainder of 2013, PepsiCo said it expects low-single-digit commodity inflation, and productivity savings of approximately $900 million. The company also expects advertising and marketing expense to increase at or above the rate of net revenue growth. Below the operating profit line, the company expects higher interest expense driven by increased debt balances and a core effective tax rate of approximately 27%.

The company is targeting over $9 billion in cash flow from operating activities and more than $7 billion in management operating cash flow (excluding certain items) in 2013. Net capital spending is expected to be approximately $3 billion in 2013, which is within the company’s long-term capital spending target of less than or equal to 5% of net revenue.