Coca-Cola raised its full-year revenue forecast Tuesday after a stronger-than-expected third quarter. That’s up from the eight per cent to nine per cent guidance Coke announced at the end of the second quarter. Coke expects earnings – adjusted for currency variations – will grow 13 per cent to 14 per cent, up from a previous forecast of nine per cent to 11 per cent. Sports drink sales also grew three per cent; water sales were up one per cent; and tea sales fell one per cent on declining demand in Turkey and Latin America. Coke rival PepsiCo also raised its full-year earnings forecast this month after a better-than-expected third quarter.

Source: The Star October 25, 2023 11:38 UTC