Coca-Cola raises full-year outlook as earnings beat estimates

Here's what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:Revenue: $11.97 billion adjusted vs. $11.75 billion expected

The beverage giant reported second-quarter net income attributable to shareholders of $2.55 billion, or 59 cents per share, up from $1.91 billion, or 44 cents per share, a year earlier.Net sales rose 6% to $11.97 billion. The company's organic revenue, which strips out the impact of acquisitions and divestitures, increased 11% in the quarter, fueled by higher prices.For 2023, Coke now expects comparable earnings per share growth of 5% to 6%, up from its prior forecast of a 4% to 5% rise.

Like many food and beverage companies, Coke has been hiking prices on its products in response to higher commodity costs. In

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Coca-Cola’s stock up 1.9% premarket after company tops Q2 earnings estimates and raises guidanceCoca-Cola Co.’s stock rose 1.9% premarket Wednesday, after the drinks and snacks giant beat second-quarter earnings estimates and raised its guidance. The...
Source: MarketWatch - 🏆 3. / 97 Read more »

Coca-Cola is about to report earnings. Here's what to expectCoke has been raising prices across its portfolio, including another round of hikes during the first quarter.
Source: CNBC - 🏆 12. / 72 Read more »