Coca-Cola on Wednesday reported quarterly earnings and revenue that topped analysts’ expectations, thanks to a boost from higher prices that offset sluggish demand.

Shares of the company fell 2% in premarket trading.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:

• Earnings per share: 77 cents adjusted vs. 74 cents expected
• Revenue: $11.95 billion adjusted vs. $11.60 billion expected

Coke reported third-quarter net income attributable to shareholders of $2.85 billion, or 66 cents per share, down from $3.09 billion, or 71 cents per share, a year earlier.

Excluding items, the company earned 77 cents per share.

Adjusted net sales of $11.95 billion were roughly flat from a year earlier. Coke’s organic revenue, which strips out the impact of acquisitions, divestitures and currency, climbed 9% during the quarter.

Unit case volume fell 1% in the quarter, driven by weakening demand in some international markets. The metric strips out the impact of pricing and foreign currency to reflect demand.

In North America, unit case volume was flat, as shrinking demand for its water, sports, coffee and tea products offset growth in its namesake soda, juice, dairy, plant-based beverages and sparkling flavors.

But unit case volume fell 2% in both the company’s Europe, Middle East and Africa and Asia Pacific regions. The company called out volume declines in China and Turkey specifically. Like North America, Latin America reported flat volume.

Globally, volume for Coke’s sparkling soft drinks, like Sprite, and for its namesake soda were both flat for the quarter. The company’s juice, dairy and plant-based beverages division reported a 3% decline in volume. Its water, sports, coffee and tea segment saw volume fall 4%, fueled by a 6% drop in bottled water.

Coke said its pricing rose 10%. Roughly 4% of that increase comes from markets experiencing intense inflation, like Argentina, while the rest is the result of price hikes and customers trading up to pricier options.

For 2024, Coke now expects organic revenue growth of roughly 10%, on the high end of its prior range of 9% to 10%. The company reiterated its projection that comparable earnings per share will rise 5% to 6%.

Coke will provide its full 2025 outlook when it reports fourth-quarter earnings, but the company is already expecting currency to hurt its results next year. Coke is projecting a low-single digit headwind for comparable revenue and a mid-single digit headwind for earnings per share.