A person wearing a mask pushes a trolley past a Coca-Cola truck as the city continues Phase 4 of reopening after restrictions were imposed to contain the spread of the coronavirus in New York City on September 16, 2020 slow it down.
Alexi Rosenfeld Getty Images
Coca-Cola on Monday reported quarterly earnings that beat analysts’ expectations as consumers drank more of its branded soda, Powerade and other beverages.
Here’s what the company reported, compared to Wall Street expectations, based on a poll of analysts by Refinitiv:
- Earnings per share: 64 cents adjusted vs. 58 cents expected
- Revenue: $10.5 billion versus $9.83 billion expected
Coke reported net income attributable to shareholders of $2.78 billion, or 64 cents a share, for the first quarter, up from $2.25 billion, or 52 cents a share, a year ago.
Excluding articles, the beverage giant earned 64 cents a share, beating the 58 cents a share expected by analysts polled by Refinitiv.
net sales was up 16% to $10.5 billion, beating Wall Street’s expectations of $9.83 billion. Organic revenue, which excludes the impact of acquisitions and divestitures, rose 18% in the quarter.
Despite the suspension of its Russian business, the company reiterated its full-year guidance of 7% to 8% revenue growth and 5% to 6% comparable earnings per share growth.
Read the full earnings report here.
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