Coca-Cola raised its full-year revenue forecast Tuesday after a stronger-than-expected third quarter. Coke expects earnings __ adjusted for currency variations __ will grow 13% to 14%, up from a previous forecast of 9% to 11%. Water sales were up 1%, while tea sales fell 1% on declining demand in Turkey and Latin America. Prices rose 9% in the most recent quarter compared with the double-digit increases Coke instituted in the previous five quarters. Coke rival PepsiCo also raised its full-year earnings forecast this month after a better-than-expected third quarter.

Source: The Star October 24, 2023 12:00 UTC