Coca-Cola earnings, revenue beats Q3 consensus estimates
Investing.com -- Coca-Cola reported better-than-expected third-quarter results and raised its full-year organic revenue growth forecast, sending shares up 1% in early trading.
Organic revenue, which excludes currency impacts and acquisitions, grew 9% YoY, driven by 10% growth in price/mix. However, global unit case volume declined 1% as growth in some markets was offset by declines in China, Mexico and Türkiye. For the full year 2024, Coca-Cola expects organic revenue growth of approximately 10%, at the high end of the previously forecasted range of 9% to 10%. The company cited strong pricing and the impact of high inflation in some markets.
The company maintained its outlook for 5-6% comparable EPS growth for the full year versus $2.69 in 2023.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events.
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