Coke revenue rises along with prices, ups outlook for 2022
The Coca-Cola Co. posted strong sales in the second quarter due to price increases and rising demand from restaurants and other venues.
The company also raised its revenue expectations Tuesday, saying that it now expects organic revenue growth of between 12% and 13%. That's up from earlier projections of a 7% to 8% increase.
Revenue grew 12% in the April-June period to $11.3 billion, the Atlanta company said. That was well ahead of the $10.56 billion Wall Street forecast, according to analysts polled by FactSet.
Higher operating costs and increased spending on marketing impacted its profits. Excluding one-time items, Coke earned 70 cents per share in the quarter. That was also higher than the 67-cent profit analysts forecast.
Shares rose slightly before the opening bell.