Coca-Cola beats quarterly revenue estimates on steady soda demand
The company's shares were up about 1 per cent in premarket trading. They have risen 12.5 per cent so far this year.
Coca-Cola's well-known brands and its global presence have thus far cushioned the beverage giant from a broader weakening in demand for sodas in the United States.
The company has been able to raise prices in inflationary markets such as Latin America and the U.S., while volume growth has remained steady.
Demand for its protein milkshakes brands in the United States has also been strong as consumers look for healthier beverage and snacking options.
The company's comparable revenue rose 2.5 per cent to $12.62 billion, compared with analysts' expectations of a 1.86 per cent growth to $12.54 billion, according to data compiled by LSEG.
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