Coca-Cola Gets a Lift From Higher Prices, Steady Demand

Coca-Cola Gets a Lift From Higher Prices, Steady Demand
Traffic passes a Coca-Cola digital billboard in the Times Square area of Manhattan in New York on March 2, 2023. Chris Helgren/Reuters
Reuters
Updated:

Coca-Cola Co. on Monday topped Wall Street estimates for first-quarter revenue and profit, benefiting from resilient demand for its sodas as well as multiple price increases undertaken to combat higher commodity and shipping costs.

The company said in February it would raise soda prices further in 2023 “across the world” but at a moderating pace, even as rival PepsiCo. hit a pause on price hikes.