Coca-Cola exceeded expectations

By: Trademagazin Date: 2024. 05. 01. 11:48

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Coca-Cola has surpassed quarterly expectations largely due to increased consumer demand for Fanta and Fairlife products, leading to a revised annual organic revenue forecast.

The company reported a per-share earnings of 74 cents, beating the forecasted 70 cents, and revenue reached $11.30 billion, exceeding expectations of $11.01 billion. Despite a $760 million non-cash impairment for the Bodyarmor brand, net revenue increased by 3% and organic sales by 11%. CEO James Quincey noted a slow start in North America but saw improvement later in the quarter. Prices rose due to hyperinflation in some markets, with the company now expecting an 8-9% increase in organic revenue for the year while maintaining a forecast for 4-5% comparable profit growth.