Coca-Cola reported second-quarter earnings and revenue on Tuesday that exceeded Wall Street expectations, and raised its full-year profit guidance.
Coca-Cola stock rose more than 2% in premarket trading
The company posted adjusted earnings of 97 cents per share on net revenues of $13.38 billion, a 7% increase year over year, topping analyst expectations of 93 cents per share and $13.16 billion in revenue, according to CNBC. The company’s quarterly net income reached $4.43 billion, translating to $1.03 per share, compared with $3.81 billion, or 89 cents per share, in the year-ago period, the company said. Organic revenues grew 6%.
Global unit case volume grew 5% in the quarter, led by India, China, the United States and Brazil, the company said. Coca-Cola Zero Sugar posted 16% volume growth, while Trademark Coca-Cola grew 5%. Asia Pacific was the fastest-growing region by volume, up 8%, though the company lost value share there as gains in Japan and China were more than offset by a loss in India.