Last quarter, Coke prices rose 4% in North America and only 1% globally

Coca-Cola saw stronger demand in the U.S. during the fourth quarter even with increased prices.

The Atlanta-based beverage giant reported Tuesday that global unit case volumes increased by 1% in the October-December timeframe, driven by growth in the U.S., Japan, and Brazil. North American unit case volumes also climbed 1%—a turnaround from multiple quarters of stagnant or falling sales.

Coke stated it raised prices by 4% in North America and 1% worldwide during the quarter. Coca-Cola Zero Sugar performed well, with sales jumping 13% in the October-December period. Demand also strengthened for water, sports drinks, coffee, and tea, while juices and dairy products struggled.

The company noted it’s observing a split among consumers in North America and Europe: higher-income shoppers are choosing its pricier brands like Smartwater, Topo Chico, and Fairlife, while middle- and lower-income consumers face greater financial pressure.

Last month, the company launched 7.5-ounce mini cans for the first time at North American convenience stores to help make its soft drinks more budget-friendly.

Revenue rose 2% to $11.8 billion in the October-December period, falling short of Wall Street’s expectations. Analysts polled by FactSet projected quarterly revenue of $12.05 billion.

Net income increased by 3% to $2.3 billion. Adjusted for one-time items, the company earned 58 cents per share—2 cents higher than Wall Street’s forecasts.

Coke indicated it anticipates organic revenue to grow 4% to 5% in 2026. The company’s organic revenue rose 5% last year, and analysts expected a similar figure for this year.

Shares dropped nearly 4% prior to the opening bell.

In December, Coca-Cola announced that Henrique Braun—current chief operating officer and a 30-year company veteran—will become its CEO on March 31. James Quincey, Coke’s current Chairman and CEO, will transition to executive chairman.