Coca-Cola (KO) Q3 2022 earnings

Coca-Cola on Tuesday raised its full-year outlook after beating Wall Street’s expectations for its quarterly earnings and revenue.

The company also provided a look toward 2023, saying that it expects inflation to keep raising its expenses and commodity prices to stay volatile. However, the company won’t provide its full outlook for next year until early 2023.

Shares of the company rose 2.9% in premarket trading.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

• Earnings per share: 69 cents adjusted vs. 64 cents expected
• Revenue: $11.05 billion adjusted vs. $10.52 billion expected

The beverage giant reported third-quarter net income of $2.83 billion, or 65 cents per share, up from $2.47 billion, or 57 cents per share, a year earlier.

Excluding items, Coke earned 69 cents per share.

Adjusted net sales rose 10% to $11.05 billion, topping expectations of $10.52 billion.