Coca-Cola on Tuesday raised its full-year outlook, predicting that its two-pronged strategy of hiking prices and offering more affordable options will keep driving sales growth.
Inflation is expected to keep raising Coke’s expenses in 2023, and executives signalled that more price hikes could be on the way over the next 12 months. Foreign currency is also projected to weigh on Coke’s earnings and revenue next year. However, the company won’t provide its full 2023 outlook until February.
Shares of the company rose 1% in morning trading.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:
- Earnings per share: 69 cents…