Premium drinks and mini cans help Atlanta-based Coca-Cola boost third quarter results despite tepid demand

Cans of Coca-Cola are on display at a grocery market in Uniontown, Pa, April 24, 2022. (AP Photo/Gene J. Puskar, File)

This story was updated on Tuesday, Oct. 21 at 11:19 a.m.

The Coca-Cola Co. said sales of premium beverages and mini cans helped boost its third-quarter results despite tepid demand in the U.S. and elsewhere.

The Atlanta beverage giant said Tuesday it continues to see a divergence among consumers in North America and Europe, with higher-income buyers opting for its more expensive brands like Smartwater, Topo Chico and Fairlife while middle- and lower-income consumers are under more pressure.