economy
Coca-Cola tops estimates, raises earnings outlook as global beverage demand rises
Shares of Coke have risen just 6% over the last year, hurt by concerns about the broader economy.
TL;DR
- Coca-Cola exceeded Wall Street's expectations for both quarterly earnings and revenue.
- The company raised its full-year earnings per share growth forecast to 8%-9% from 7%-8%.
- Global beverage demand and resilient premium brands fueled the positive results.
- Coca-Cola is implementing strategies to appeal to lower-income consumers with more affordable options.
- All operating segments reported volume growth, with water, sports, coffee, and tea showing the strongest performance.
- Coca-Cola Zero Sugar saw a 13% volume increase.
- The company reiterated its organic revenue growth outlook of 4%-5% for the full year.