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Coca-Cola Vs. PepsiCo: Which Beverage Giant Offers Stronger Upside After Q3 Earnings?
Coca-Cola's third-quarter revenue rose 7% year-on-year to $13.4 billion, beating analysts' estimate of $12.92 billion. Comparable earnings per share increased 11% to $0.91, above expectations of $0.88, while global sales volume grew 5%.
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What happened
Coca-Cola's third-quarter revenue rose 7% year-on-year to $13.4 billion, beating analysts' estimate of $12.92 billion. Comparable earnings per share increased 11% to $0.91, above expectations of $0.88, while global sales volume grew 5%.
Confirmed
Global impact / market context
Coca-Cola's revenue beat and higher earnings per share suggest it sold more drinks and earned more profit per sale, supporting its stock. PepsiCo lowered its 2026 earnings growth forecast despite beating estimates, which may push investors to favor Coca-Cola's steadier results over PepsiCo's discounted shares and higher dividend.
Analyst inference
The article frames a widening operational divide between the two beverage giants after Q3 earnings. Coca-Cola showed volume growth led by India, China, Mexico and Brazil, while PepsiCo faces growth concerns. PepsiCo's steep discount and higher dividend are presented as a potential turnaround opportunity for Wall Street.
Analyst inference
What to watch
- Watch whether Coca-Cola's North America sales volume stays flat, as growth in Coca-Cola drinks was offset by lower sales of water, sports drinks, coffee and tea in that region. Confirmed
- PepsiCo's lowered 2026 earnings growth forecast for core earnings per share, which means profit per share excluding one-time items, is a key figure to track for signs of a turnaround. Proposed
- Investors may compare Coca-Cola's volume growth in India, China, Mexico and Brazil against PepsiCo's growth challenges to judge which company's revenue and profit per sale can keep rising. Analyst inference