Coke's quarterly revenue and volumes fall but still beat expectations

Coca-Cola Co. said Wednesday its third-quarter revenue fell as sales volumes flattened or declined around the world.

But the company still beat Wall Street's forecasts and said it expects full-year organic revenue to rise 10%, which is at the high end of its previous guidance.

The Atlanta beverage giant said its revenue fell 1% to $11.9 billion. That beat Wall Street’s forecast of $11.6 billion, according to analysts polled by FactSet.

Coke hiked prices 10% in the July-September period. The company said that was partly due to hyperinflation in markets like Argentina. Coke has raised prices every quarter since the end of 2020.