Coca-Cola has today raised its annual sales and profit forecasts for a second time this year, riding on resilient demand from consumers for its sodas, juices and energy drinks as well as higher prices.
The company's shares rose about 3% in premarket trading after it also topped expectations for third-quarter results.
Coca-Cola's average selling prices rose 9% in the third quarter, the company said, while overall unit case volumes increased 2%. Investor focus has largely shifted to efforts to grow volumes as cost of production eases while major firms including Procter & Gamble face pressure from countries like France to cut prices due to still strained purchasing power in many regions.
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