Coca-Cola and PepsiCo have both seen their stocks struggle this year due to higher interest rates and concerns about the impact of weight loss drugs. However, while both companies surpassed Wall Street's expectations for their third-quarter results, only Coke reported volume growth. Coke's overall volume rose 2% in the third quarter, while Pepsi reported flat beverage volume and a 1.5% decline in its food volume. Coke's success can be attributed to factors such as raising prices, winning over shoppers with its drinks, and benefiting from away-from-home purchases. Additionally, Coke has a larger international presence and works with independent bottlers, which gives it an advantage over Pepsi.

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