Higher prices help Coca-Cola beat earnings estimates, despite sluggish demand.
- Coca-Cola posted earnings and revenue that topped expectations.
- Higher prices helped to offset sluggish demand for beverages.
on Wednesday reported quarterly earnings and revenue that topped analysts' expectations.
Shares of the company rose less than 1% in premarket trading.
Based on a survey of analysts by LSEG, the company's reported results differed from Wall Street's expectations.
- Earnings per share: 77 cents adjusted vs. 74 cents expected
- Revenue: $11.95 billion adjusted vs. $11.60 billion expected
Coke's third-quarter net income attributable to shareholders decreased by $240 million, or 5 cents per share, compared to the same period last year.
Excluding items, the company earned 77 cents per share.
Sales remained relatively stable at approximately $11.95 billion compared to the previous year.
by Amelia Lucas
Business News
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