Coca-Cola posted earnings on Wednesday that beat analysts' estimates, but blamed strong international headwinds and political uncertainty for lower revenue.
Net sales in the third quarter fell 7 percent from a year earlier to $10.6 billion, but were higher than Wall Street estimates of $10.5 billion. Coke's better-than-expected revenue was helped by higher prices for sodas and a strong demand for water and sports drinks in North America.
Coke reported earnings of 49 cents for the quarter, excluding items, beating the average analyst forecast of 48 cents from Thomson Reuters. This makes seven-straight quarters that the company has surpassed Wall Street's expectations.
The Atlanta beverage company said it saw organic revenue growth of 3 percent, falling short of analysts' estimates of 3.2 percent. Organic revenue excludes foreign currency effects and the impact of acquisitions and divestitures.
Coke said organic sales growth rose 4 percent so far this year, and margins expanded more than 50 basis points.
The company maintained its outlook for 3 percent growth in organic revenue for the full year.