Beverage giant, the Coca-Cola Company (KO) released quarterly revenue this week, exceeding expectations as sales began to bounce back from the partial reopening of theaters, restaurants, and public avenues closed for months for the pandemic.
“While many challenges still lie ahead, our progress in the quarter gives me confidence we are on the right path,” stated Chief Executive Officer James Quincey.
Net income payable to the company’s shareholders declined to $1.74 billion, or 40 cents per share, from $2.59 billion, or 60 cents per share, a year earlier. Net revenue dropped 9% to $8.7 billion but was ahead of analysts’ estimate of $8.36 billion. Sales of its trademark Coca-Cola and Coca-Cola Zero Sugar revived. Organic sales dropped by 6%. Year-to-date cash from operations stood at $6.2 billion, down 20%.
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.
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