Coca-Cola reported quarterly earnings before the bell on Tuesday.
Here's what the company reported compared with what Wall Street analysts surveyed by LSEG were expecting:
In recent quarters, Coke executives have said shoppers are under pressure, stretched thin by inflation and economic uncertainty. But the beverage giant has also said consumers are still buying its drinks, from premium brands like Fairlife to its namesake soda.
Rival PepsiCo has not had the same success. Earlier in October, the company cut its full-year earnings forecast as demand in its home market lags. Its U.S. soda business was a particular weak spot in its fiscal third quarter. Adding to Pepsi's challenges, Coke recently won the U.S. business of longtime Pepsi customer KFC.
For the full year, Coke is projecting comparable earnings per share growth of 9% to 10% and an organic revenue increase of about 5%.
In September, Coke said its system will invest $10 billion in infrastructure across the U.S. through 2030. The plans include previously announced projects in California, New York and other states.
Shares of Coke have climbed about 32% so far this year, outstripping the S&P 500's gains of around 12% over the same period. The company has a market cap of roughly $398 billion.
