Coca-Cola earnings beat estimates, fueled by price hikes and higher demand
Publishing timestamp: 2023-04-24 11:01:03
Summary
Coca-Cola reported Q1 earnings and revenue that beat expectations, driven by price hikes and higher demand for its drinks. The company has been raising prices to mitigate the impact of inflation, and most of the price increases were implemented last year. Despite higher prices, demand for Coke's beverages remained strong, with unit case volume growing 3% in the quarter. The company reiterated its prior forecast for 2023, projecting organic revenue growth of 7% to 8% and comparable earnings per share growth of 4% to 5%.
Sentiment: NEUTRAL
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Source: https://www.cnbc.com/2023/04/24/coca-cola-ko-q1-2023-earnings.html