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Coke’s quarterly revenue as well as sales volumes fall, but still beats expectations

Coke’s quarterly revenue as well as sales volumes fall, but still beats expectations



Coke’s quarterly revenue as well as sales volumes fall, but still beats expectations

FILE – Coca Cola is displayed in a market in Pittsburgh on Jan. 26, 2023. (AP Photo/Gene J. Puskar, File) (Gene J. Puskar, Copyright 2023 The Associated Press. All rights reserved)

Coca-Cola reported higher-than-expected revenue in the third quarter as higher prices offset lower sales volumes.

Revenue fell 1% to $11.9 billion, but still beat Wall Street’s forecast of $11.6 billion, according to analysts polled by FactSet.

The Atlanta beverage giant raised prices 10% in the July-September period. Coke has raised prices every quarter since the end of 2020. But unit case volumes fell 1%.

Coke’s net income fell 8% to $2.8 billion. Adjusted for one-time items, the company earned 77 cents per share, which also beat analyst expectations of 75 cents.

Coke shares fell 2% in premarket trading Wednesday.


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