In a statement released today, the company also announced that revenue rose to $12.41 billion in the third quarter, marking a 6% increase compared to the same period in 2014.
Coca-Cola stated that the third-quarter revenue growth was mainly driven by higher prices.
Globally, Coca-Cola recorded the highest volume growth in the water, sports drinks, coffee, and tea segments.
By 2026, Coca-Cola anticipates a slight boost in both revenue and profits due to currency fluctuations.
Overall, Coca-Cola’s results today exceeded expectations, and the multinational’s shares were up nearly 2.5% in pre-market trading.
Meanwhile, Coca-Cola HBC, a bottler and partner of Coca-Cola Co, announced today that it will acquire 75% of the Coca-Cola Beverages Africa (CCBA) business from the American multinational Coca-Cola Co.
CCBA distributes the leading soda brands of the American multinational in 14 countries on the continent and holds a significant share of this market in Africa.
The transaction will involve purchasing 42% of Coca-Cola Co’s stake in the bottler and another 33% held by Gutsche Family Investments, with a total payment of $2.6 billion.
Coca-Cola Co. has committed to considering the sale of the remaining 25% it holds in CCBA in the years following the completion of the transaction, which is expected by the end of next year.
The deal values this latter entity at approximately $3.4 billion.
Similarly, Coca-Cola HBC indicated that it will cancel the share buyback program it had launched.
