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Coca-Cola exceeded expectations in its third-quarter earnings report, yet the company’s stock dropped by over 2% in early trading. The beverage giant reported adjusted earnings per share of $0.77, slightly surpassing analysts’ forecast of $0.75. Revenue also beat expectations, reaching $11.9 billion compared to the anticipated $11.63 billion.
Coca-Cola’s organic revenue, which excludes the effects of currency fluctuations and acquisitions, rose by 9% year-over-year. This growth was primarily driven by a 10% increase in price/mix, reflecting higher prices and a favorable product mix. However, global unit case volume fell by 1%, as growth in certain markets was tempered by declines in China, Mexico, and Türkiye.
Despite the robust results, the slight dip in global sales volume, along with market concerns, may have contributed to the stock’s decline.
