Coca-Cola Raises Outlook as Shoppers Absorb Price Hikes
- Beverage giant tops rival PepsiCo on North American volume
- Shares have been under pressure this year, trailing index
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Coca-Cola Co. raised its full-year outlook, citing strong year-to-date performance despite price increases and challenges in China.
Coca-Cola’s Chief Financial Officer John Murphy said the company’s away-from-home business is recovering as consumers return to public events at stadiums, restaurants and theaters. By comparison, the business is China remains slow, he said.