Coca-Cola Raises Revenue Forecast
The American soft drink producer Coca-Cola has revised its sales forecast for the whole of 2022 upwards, partly due to price increases worldwide.
Coca-Cola, which also owns brands such as Fanta, Sprite, Aquarius, Fuze Tea and Minute Maid, posted third-quarter sales of $11.1 billion, up 10 percent from a year ago. That is well above analyst expectations. Net profit rose 14 percent to $2.8 billion compared to last year.
The group now expects revenue growth to be between 14 and 15 percent this year. In July, the group still assumed 12 to 13 percent. As a result, the turnover forecast was also revised upwards at that time.
Arch-rival PepsiCo also recently raised all its expectations. Both companies have already implemented price increases several times to mitigate the negative effect of rising costs.