FILE PHOTO: Workers walk past a Coca Cola logo painted on a gate at a Coca Cola factory in Nairobi, Kenya, June 7, 2018. REUTERS/Baz Ratner/File Photo
July 21, 2021
(Reuters) -Coca-Cola Co raised its full-year sales and profit forecasts on Wednesday, as demand rebounds for its beverages from the re-opening of theaters, restaurants and stadiums.
Shares of the world’s largest soda maker rose 2% in early trading.
Revenue in Coca-Cola’s North America business rose 28% in the second quarter, helped by the vaccine-aided reopening of public venues and easing of capacity restrictions across the United States.
The company said it expects annual organic revenue to rise 12% to 14%, compared with its prior forecast of a high single digits increase.
Annual adjusted earnings per share are expected to rise 13% to 15%, compared with a prior forecast of a high single digits to low double digits increase.
Net revenue rose 42% to $10.1 billion in the second quarter ended July 2. The company had reported a 28% slump in total net revenues in the year-ago quarter due to the lockdowns.
(Reporting by Uday Sampath in Bengaluru; Editing by Sriraj Kalluvila)
Source: One America News Network
