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Coca-Cola sales surge offsetting rising costs


Nepalnews
2022 Apr 25, 18:12, Atlanta
Bottles of Coca-Cola are on display at a grocery market in Uniontown, Pa, on Sunday, April 24, 2022. Coca-Cola Co. on Monday, April 25, 2022, reported first-quarter net income of $2.78 billion. The Atlanta company said it had net income of 64 cents per share. The results exceeded Wall Street expectations. (AP Photo)

Sales at Coca-Cola surged 16% during the first quarter as crowds returned to movie theaters, music venues and sport stadiums, offsetting rising input costs for the company and the suspension of operations in Russia.

Coca-Cola was among the companies to pull the plug on Russian operations after the country invaded neighboring Ukraine. But on Monday, it stuck by earlier revenue growth projections of 7% to 8% and per-share growth of 5% to 6% for the year.

The Atlanta company posted net income of $2.78 billion, or 64 cents per share, topping Wall Street’s expectations for per-share earnings by 6 cents, according to a survey by Zacks Investment Research.

The world’s largest beverage maker posted revenue of $10.49 billion in the period, also exceeding industry analyst forecasts of $9.91 billion.

Sales of Coca-Cola Zero Sugar increased 14%, while sales of its namesake Coca-Cola soft drink rose 6%. Overall sales for the sparkling soft drink category climbed 7%.


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