As per reports, Coca-Cola Company (KO) quarterly earnings exceeded estimates as the beverage giant’s sales at restaurants, theatres, and other venues revived from the pandemic. The company also raised prices to manage higher costs on freight, high fructose corn syrup, and aluminum.
The beverage giant now expects organic revenue growth of 12% to 13%. Its previous guidance was 7% to 8%. Net income was $1.91 billion, or 44 cents per share, for the quarter ended July 1. A year ago, it was $2.64 billion, or 61 cents per share.
Adjusted earnings per share of 70 cents were reported versus 67 cents expected, and revenue was $11.3 billion above the $10.56 billion estimated. Coca-Cola said its revenue in the second quarter increased 12% from a year ago on higher pricing and an increase in global case volume, driven by the recovery in its away-from-home business.
Dow 30 Component, The Coca-Cola Company (KO), is the largest total beverage company in the world. It offers 500 plus brands in over 200 countries and is committed to reducing sugar in its drinks and providing new and diverse drinks to people everywhere. To learn more about The Coca-Cola Company (KO) and to continue to track its progress please visit the Vista Partners Coca-Cola Company Coverage Page.
