Coca-Cola beats earnings estimates, raises outlook as volume grows despite price hikes
Publishing timestamp: 2023-10-24 12:20:08
Summary
Coca-Cola reported better-than-expected earnings and revenue for the third quarter. The company also raised its full-year forecast. Despite higher prices, consumers continued to purchase Coca-Cola's products. The company's unit case volume grew 2% in the quarter, and its away-from-home drinks business is growing faster than its at-home division. Sales in Europe and China were impacted by various factors, but Coca-Cola is optimistic about a strong Lunar New Year in 2024. The company expects comparable earnings per share growth of 7% to 8% for the full year and increased its outlook for organic revenue.
Sentiment: POSITIVE
Keywords: breaking news: earnings, dividends, restaurants, breaking news: business, markets, pepsico inc., earnings, breaking news: markets, coca-cola co, business news, business, walmart inc, food and drink, retail industry,
Source: https://www.cnbc.com/2023/10/24/coca-cola-ko-q3-2023-earnings.html