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“Coca-Cola earnings beat estimates, fueled by price hikes and higher demand”

Coca-Cola on Monday reported quarterly earnings and revenue that topped analysts’ expectations, fueled by price hikes and higher demand for its drinks.

Shares of the company rose 1% in premarket trading.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

  • Earnings per share: 68 cents adjusted vs. 64 cents expected
  • Revenue: $10.96 billion adjusted vs. $10.8 billion expected

Coke reported first-quarter net income attributable to shareholders of $3.11 billion, or 72 cents per share, up from $2.78 billion, or 64 cents per share, a year earlier.

Excluding restructuring charges, certain tax matters and other items, the beverage giant earned 68 cents per share.

Net salesrose 5% to $10.98 billion. Organic revenue, which strips out the impact of acquisitions and divestitures, climbed 12% in the quarter, driven largely by higher prices on Coke’s drinks…”

https://www.cnbc.com/2023/04/24/coca-cola-ko-q1-2023-earnings.html

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