Coca-Cola announced on Wednesday that it anticipates its annual organic sales to be at the high end of its previous projections, following an unexpected quarterly increase in demand for its sodas and juices in the US, India, and South Korea.
The company has been focusing on emerging and developing markets, introducing reformulated versions of Sprite, Fanta, and Fuze Tea in Europe, along with offering smaller pack sizes.
In the third quarter, Coca-Cola saw its average selling prices rise by 10%, while unit case volumes increased by 1%.
For fiscal 2024, the company now expects organic sales growth of approximately 10%, up from its earlier forecast of 9% to 10%.
Net revenue increased to $11.95 billion, up from $11.91 billion the previous year, surpassing analyst expectations, which had predicted a drop to $11.60 billion, according to LSEG data.
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