Coca-Cola raises revenue forecast as demand rebounds on reopening boost By Reuters


2/2

© Reuters. FILE PHOTO: Workers walk past a Coca Cola logo painted on a gate at a Coca Cola factory in Nairobi, Kenya, June 7, 2018. REUTERS/Baz Ratner/File Photo

2/2

(Reuters) -Coca-Cola Co raised its full-year sales and profit forecasts on Wednesday, as demand rebounds for its beverages from the re-opening of theaters, restaurants and stadiums.

Shares of the world’s largest soda maker rose 2% in early trading.

Revenue in Coca-Cola (NYSE:)’s North America business rose 28% in the second quarter, helped by the vaccine-aided reopening of public venues and easing of capacity restrictions across the United States.

The company said it expects annual organic revenue to rise 12% to 14%, compared with its prior forecast of a high single digits increase.

Annual adjusted earnings per share are expected to rise 13% to 15%, compared with a prior forecast of a high single digits to low double digits increase.

Net revenue rose 42% to $10.1 billion in the second quarter ended July 2. The company had reported a 28% slump in total net revenues in the year-ago quarter due to the lockdowns.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Copyright © 2019 Billionaire Club Co LLC. All rights reserved

Chat
Loading the chat ...