Coke raises sales outlook after higher prices boost Q3 sales

By DEE-ANN DURBIN
AP Business Writer

Beverage giant Coca-Cola saw stronger-than-expected sales in the third quarter as it hiked prices around the world. Atlanta-based Coke raised its full-year earnings guidance based on the results. Coke said its revenue rose 10% to $11.1 billion in the July-September period. That was ahead of the $10.5 billion Wall Street forecast, according to analysts polled by FactSet. Coke’s net income rose 14% to $2.8 billion. Adjusted for one-time items, the company earned 69 cents per share. That also beat analysts’ forecasts of a 64-cent profit.