Why Coca-Cola Shares Are Rising

Coca-Cola Co KO shares are trading higher by 1.62% to $55.36 Wednesday morning in sympathy with Pepsi, which reported better-than-expected third-quarter results and raised 2022 guidance.

What Happened?

PepsiCo said third-quarter revenue increased 8.8% year-over-year to $21.97 billion, which beat average analyst estimates of $20.81 billion, according to Benzinga Pro.

The company reported quarterly earnings of $1.97 per share, which beat average analyst estimates of $1.84 per share...Read More

See Also: PepsiCo Boosts Annual Guidance Following Solid Q3 Beat

According to data from Benzinga Pro, Coca-Cola has a 52-week high of $67.20 and a 52-week low of $52.28.