Coca-Cola Co. and PepsiCo Inc. reported higher quarterly sales as the global soda giants pushed through price increases but also felt the squeeze of higher costs for commodities and transportation.
Coke’s organic revenue increased 9% in the quarter ended Dec. 31, driven by a 10% increase in prices. Organic revenue at PepsiCo, which also sells Doritos, Lays potato chips and other packaged foods, rose 11.9% with a 7% increase in prices. Organic revenue strips out currency swings as well as acquisitions or divestitures.
