Coca-Cola on Tuesday reported Q2 earnings and revenue that exceeded Wall Street’s estimates, driven by increased demand for its beverages.
The company also raised its full-year forecast, expecting earnings per share to grow by 9% to 10%, up from its previous projection of 8% to 9%. It also anticipates organic revenue to increase about 5%, at the high end of its earlier range of 4% to 5%.
The Coca-Cola Company’s Q2 earnings highlights:
- Adjusted earnings per share: 97 cents, vs. expected 93 cents
- Revenue: $13.38 billion, vs. $13.16 billion expected
Net sales increased by 7% to $13.38 billion while Coke’s organic revenue rose 6%.
Coke announced a second-quarter net income of $4.43 billion, increasing from $3.81 billion.
Henrique Braun, CEO of The Coca-Cola Company, told investors, “We delivered another strong quarter by staying close to the changing needs of our consumers and customers. While we continue to see a dynamic consumer landscape, we leveraged our powerful brands and system to gain value share, delivering revenue, profit and earnings growth while also investing for the long term.”
Coke shares increased over 2% in premarket trading following the announcement.
By CEO NA Editorial Staff
