Coke raises full-year sales forecast after stronger-than-expected third quarter

  • 📰 wjxt4
  • ⏱ Reading Time:
  • 34 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 63%

United States News News

United States Latest News,United States Headlines

Coca-Cola is raising its full-year revenue forecast after a stronger-than-expected third quarter.

Bottles of Coca-Cola are on display at a grocery market in Uniontown, Pa, on Sunday, April 24, 2022. Coca-Cola reports earnings on Tuesday, Oct. 24, 2023. Coca-Cola raised its full-year revenue forecast Tuesday after a stronger-than-expected third quarter.

Net revenue grew 8% to $11.9 billion, topping the $11.4 billion that Wall Street had forecast, according to analysts polled by FactSet. Net income rose 9% to $3.1 billion. Adjusted for one-time items, Coke earned 74 cents per share, better than the 69 cents analysts had expected.The company continued to raise prices to offset higher ingredient costs, but at a more moderate pace. Prices rose 9% in the most recent quarter compared with the double-digit increases Coke instituted in the previous five quarters.

Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 246. in US

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Coca-Cola Earnings Preview: Will Q3 Report Help Sustain Stock's Bullish Momentum?Stocks Analysis by Investing.com (Günay Caymaz) covering: Coca-Cola Co, Coca Cola Co, Coca-Cola Co BDR, Coca-Cola Co DRC. Read Investing.com (Günay Caymaz)'s latest article on Investing.com
Source: Investingcom - 🏆 450. / 53 Read more »

Coca-Cola has quietly scrubbed references to Hamas-supporting BLM from its websiteBLM’s Chicago chapter sparked outrage with a now-deleted post on X showing a photo of a paraglider with the text “I stand with Palestine.”
Source: nypost - 🏆 91. / 67 Read more »

Coca-Cola Reports Earnings Tuesday. What to Expect.Many investors who piled into consumer staple stocks in 2022 to ride out market volatility have since pulled out.
Source: MarketWatch - 🏆 3. / 97 Read more »

Here's how to score free pizza and soda in select cities right nowCoca-Cola partners with beloved local U.S. pizzerias to offer up pizza in exchange for recycling
Source: nypost - 🏆 91. / 67 Read more »

Coca-Cola raises annual forecasts on steady demand, higher pricesCoca-Cola raises annual forecasts on steady demand, higher prices
Source: Investingcom - 🏆 450. / 53 Read more »

Coca-Cola beats earnings estimates, raises outlook as volume grows despite price hikesCoca-Cola's stock has fallen 15% this year, dragging its market value down to about $234 billion.
Source: CNBC - 🏆 12. / 72 Read more »