Coca-Cola is raising its full-year revenue forecast after a stronger-than-expected third quarter. The Atlanta beverage giant said its net revenue grew 8% to $11.9 billion. That topped the $11.4 billion Wall Street forecast, according to analysts polled by FactSet. Net income was up 9% to $3.1 billion.
Bottles of Coca-Cola are on display at a grocery market in Uniontown, Pa, on Sunday, April 24, 2022. Coca-Cola reports earnings on Tuesday, Oct. 24, 2023. Atlanta-based Coke said it now expects its organic revenue will be up 10% to 11% for the year. That’s up from the 8% to 9% guidance Coke announced at the end of the second quarter. Coke expects earnings __ adjusted for currency variations __ will grow 13% to 14%, up from a previous forecast of 9% to 11%.
Net revenue grew 8% to $11.95 billion in the July-September period, topping the $11.4 billion that Wall Street had forecast, according to analysts polled by FactSet. Net income rose 9% to $3.1 billion. Adjusted for one-time items, Coke earned 74 cents per share, better than the 69 cents analysts had expected.
The company continued to raise prices to offset higher ingredient costs, but at a more moderate pace. Prices rose 9% in the most recent quarter compared with the double-digit increases Coke instituted in the previous five quarters.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Coca-Cola Earnings Preview: Will Q3 Report Help Sustain Stock's Bullish Momentum?Stocks Analysis by Investing.com (Günay Caymaz) covering: Coca-Cola Co, Coca Cola Co, Coca-Cola Co BDR, Coca-Cola Co DRC. Read Investing.com (Günay Caymaz)'s latest article on Investing.com
Les mer »
Coca-Cola breaks ground on new $100M Columbus distribution and warehouse facilityCoca-Cola broke ground Monday on a new $100 million, 400,000-square-foot distribution and warehouse facility in Columbus.Sam Meiner, Coca-Cola Consolidated’s Ma
Les mer »
Verizon, 3M, General Electric, Coca-Cola rise premarket; Spotify, Barclays fallVerizon, 3M, General Electric, Coca-Cola rise premarket; Spotify, Barclays fall
Les mer »
Coca-Cola raises annual forecasts on steady demand, higher pricesCoca-Cola raises annual forecasts on steady demand, higher prices
Les mer »
Coca-Cola beats earnings estimates, raises outlook as volume grows despite price hikesCoca-Cola's stock has fallen 15% this year, dragging its market value down to about $234 billion.
Les mer »
Coca-Cola’s stock jumps after profit and revenue beat expectations as price and volume roseTomi Kilgore is MarketWatch's deputy investing and corporate news editor and is based in New York. You can follow him on Twitter TomiKilgore.
Les mer »