Skip to main content
BusinessLatest News

Coke Has Strong 1st Quarter On Higher Prices

By 04/24/2023 4:20 PMNo CommentsBy YidInfo Staff

Because it kept raising pricing and witnessed an improvement in its business in China, Coca-Cola Co. announced first-quarter sales that were better than anticipated.

According to the company’s Monday report, revenue increased 5% to $11 billion between January and March. Wall Street had anticipated less from that. $10.8 billion in revenue was predicted by analysts surveyed by FactSet.

After adjusting for one-time factors, the Atlanta beer juggernaut made 68 cents per share. That also outperformed analysts’ prediction of 65 cents.

Concentrate sales increased by 1%, but pricing and mix, including adjustments in package sizes, increased revenue by 11%. As prices have moderated, the business has stated that it anticipates slower growth this year.

As COVID-related shutdowns in China ended, unit case volumes increased by 10% across Asia.

Sales in North America were constant. Lower water, tea, and coffee sales more than made up for higher sales of soft drinks, juice, and dairy.

 

JOIN US ON WHAT'SAPP, TO GET INSTANT STATUS UPDATES AND BE IN THE KNOW.

CLICK HERE
By providing your phone number, you will receive text message updates from Yid-Info. You can opt out at any time by responding STOP.

bobby bracros

Author bobby bracros

More posts by bobby bracros

Leave a Reply