09:17 ET - Consumers are still buying beverages, even if they have to pay more. Coca-Cola in 4Q notched a 9% increase in price/mix--a metric that includes prices as well as product mix, packaging and size. The majority of the increase came from higher prices, CFO John Murphy says on a call with analysts, "split somewhat evenly between normal pricing actions across our markets and intense inflationary pricing in a handful of markets experiencing currency devaluations." Favorable mix accounted for 1% of the 9% increase, he adds. Shares gain 4.2% in premarket trading after Coca-Cola posts higher-than-expected revenue and profit in the recent quarter. (connor.hart@wsj.com)
(END) Dow Jones Newswires
February 11, 2025 09:17 ET (14:17 GMT)
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