Coca-Cola posted better-than-expected revenue in the fourth quarter as its sales volumes rose in the U.S., China and elsewhere.
Revenue for the Atlanta beverage giant rose 6% to $11.5 billion. That was better than the $10.68 billion Wall Street was expecting, according to analysts polled by FactSet.
Analysts had expected Coke's unit case volumes to be up less than 1%. But the company reported unit case volumes up 2%, reversing a 1% decline in the third quarter.
Coca-Cola Zero Sugar saw strong growth globally in the fourth quarter, with case volumes up 13%. Water, coffee, tea and sports drink volumes were all up 2%, the company said Tuesday. Volumes for juice, dairy and plant-based drinks fell 1%.
Coke hiked prices 9% in the quarter, partly due to intense inflation in markets like Argentina. Prices also rose because Coke sold a higher mix of premium beverages like Fairlife milk and Topo Chico sparkling water. Last fall, Coke said it was trying to make its drinks more affordable by offering smaller pack sizes and refillable bottles.
Net income rose 11% to $2.2 billion for the October-December period. Adjusted for one-time items, the company earned 55 cents per share. That also beat analysts' forecasts of 52 cents.
For 2025, Coke said it expects organic revenue growth of 5% to 6%. The company's organic revenue grew 12% last year.
Coke's shares rose nearly 4% in premarket trading Tuesday.