Coca-Cola tops earnings estimates, as higher prices offset sluggish demand

Vintage Coca-Cola bottles were spotted in a Manhattan shop window in New York City. Coca-Cola exceeded Wall Street analysts’ expectations in their third-quarter earnings report. The company reported earnings per share of 77 cents adjusted, higher than the expected 74 cents, and revenue of $11.95 billion, surpassing the expected $11.60 billion. Despite challenges in the U.S. market, Coke has seen strong demand in international markets. The company raised its full-year outlook and expects organic revenue growth of 9% to 10% and comparable earnings growth between 5% and 6% for the year. Shares of Coke have risen 18% this year, with a market value nearing $300 billion.