Coca-Cola raises its forecast for this year’s business results after earnings beat expectations

The Coca-Cola Company raised its forecast for its full-year financial results Tuesday, October 25, after beating expectations for its quarterly earnings and revenue.

The company also provided an outlook towards 2023 saying it expects inflation to continue to drive up its expenditures and commodity prices to remain volatile.

However, the company will not provide its full forecast for the next year until early 2023.

The company’s shares rose 2.9% in pre-market trading.

The company expects earnings per share to rise to a revised 69 cents, versus an expected 64 cents.

The company raised its revenue forecast to $11.05 billion, revised down from the $10.52 billion forecast.

The beverage giant reported a third-quarter net income of $2.83 billion, or 65 cents per share, up from $2.47 billion, or 57 cents per share, a year earlier.

Adjusted net sales rose 10% to $11.05 billion, beating expectations of $10.52 billion.