Coca-Cola exceeded expectations for its revenue in the third quarter, largely due to price increases that helped counteract a decline in sales volume.

The company reported a 1% decrease in revenue, totaling $11.9 billion, yet this still surpassed Wall Street estimates of $11.6 billion based on a survey conducted by analysts through FactSet.

During the July to September period, Coca-Cola implemented a 10% price hike, a strategy it has carried out every quarter since late 2020. Despite this, the unit case volume saw a decline of 1%.

Net income for Coca-Cola dropped by 8%, reaching $2.8 billion. When adjusted for nonrecurring items, the earnings per share stood at 77 cents, which was higher than the anticipated 75 cents by analysts.