“Coca-Cola earnings beat estimates, fueled by price hikes and higher demand”
April 24, 2023
“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