Coke sees slower growth ahead as price hikes moderate

By DEE-ANN DURBIN
AP Business Writer

Coca-Cola said higher prices didn’t hurt demand for its drinks in the fourth quarter. But the company expects slower growth ahead as inflation cools and price increases moderate. The Atlanta-based beverage giant said Tuesday it expects organic revenue growth of 7% to 8% this year. That’s slower than the 16% organic revenue growth it delivered in 2022. Higher prices were a big contributor to Coke’s revenue growth last year, as it tried to compensate for inflation. Coke’s revenue rose 7% to $10.1 billion in the October-December period. That was slightly ahead of Wall Street forecasts.