Coca-Cola has beaten quarterly profit estimates after the drinks giant’s higher prices offset falling demand.
Its revenue was up 1% to $12.5bn in the three months to 27 June, driven by 6% price hikes. This made up for a 1% fall in volumes.
Coke reported an adjusted $0.87 per share, four cents above estimates.
The business continued to see demand fall in North America, its biggest market, though sales elsewhere are helping to dampen the impact.
In Europe, the Middle East and Africa, volumes grew 3% on top of a 3% price hike.
The company’s share price rose almost 1% in pre-market trading, with its stock up around 13% since the start of the year.
Coca-Cola previously said it expected a “manageable” impact from US tariffs, with analysts expecting the highest charges on the fruit juice and aluminium it imports for production.
On Monday, its rival PepsiCo posted a 1% revenue increase in the second quarter, though its profits were down. Its share price rose, however, after the company gave more details on a turnaround plan, including an initiative to cut costs.
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