(Reuters) – Coca-Cola reported on Tuesday a turnover above expectations in the third quarter, a result driven by good demand for sodas and sugar-free drinks from the American giant.
The world’s largest beverage maker posted quarterly revenue of $12.5 billion (10.72 billion euros) while analysts on average expected $12.39 billion, according to data compiled by LSEG.
Demand for Coca-Cola brand sodas remained stable in the United States and some international markets, despite a slowdown in non-essential spending due to economic uncertainties and inflation.
The group also benefited from price increases, notably for products such as Fairlife milk and the Topo Chico sparkling water brand.
Rival PepsiCo also beat quarterly estimates earlier this month, helped by growth in international markets and demand for healthier drinks in the United States.
Excluding items, Coca-Cola earned 82 cents per share, compared to estimates of 78 cents.
The group also maintained its annual sales and profit targets.
Its stock was up about 1% in pre-market trading.
(Written by Juveria Tabassum in Bangalore; Etienne Breban; edited by Augustin Turpin)
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