AP – 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 yesterday, saying that it now expects organic revenue growth of between 12 per cent and 13 per cent. That’s up from earlier projections of a seven per cent to eight per cent increase.
Revenue grew 12 per cent in the April-June period to USD11.3 billion, the Atlanta company said. That was well ahead of the USD10.56 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 USD0.70 per share in the quarter. That was also higher than the USD0.67-cent profit analysts forecast. Shares rose slightly before the opening bell.
