Coca-Cola's sales beat forecasts with sales in the second quarter and the soda maker raised its revenue forecast for the year after seeing a significant turnaround in its business, a stark contrast to pandemic-related lockdowns that reduced sales. last year .
Coca-Cola's organic revenue grew 37%. Analysts had expected growth of 29.3%, according to forecasts compiled by Bloomberg. Earnings of 68 cents a share topped analysts' estimates of 56 cents.
"Our results in the second quarter show how our business is recovering faster than the overall economic recovery," Chief Executive James Quincey said in the statement.
The results are evidence that consumers who were confined to their homes during the same period last year are returning to reopened restaurants, amusement parks and stadiums, all public places where the company's soft drinks are poured.
Coca-Cola shares were up 2.3% at 9:49 a.m. Wednesday in New York. The stock was up 1.8% this year through Tuesday.
(BalkanWeb)
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