A person wearing a mask pushes a dolly cart past a Coca-Cola truck as the city continues Phase 4 of re-opening following restrictions imposed to slow the spread of coronavirus on September 16, 2020 in New York City.
Alexi Rosenfeld | Getty Images
Coca-Cola on Monday reported quarterly earnings that topped analysts’ expectations as consumers drank more of its trademark soda, Powerade and other beverages.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:
- Earnings per share: 64 cents adjusted vs. 58 cents expected
- Revenue: $10.5 billion vs. $9.83 billion expected
Coke reported first-quarter net income attributable to shareholders of $2.78 billion, or 64 cents per share, up from $2.25 billion, or 52 cents per share, a year earlier.
Excluding items, the beverage giant earned 64 cents per share, beating the 58 cents per share expected by analysts surveyed by Refinitiv.
Net sales rose 16% to $10.5 billion, topping Wall Street’s expectations of $9.83 billion. Organic revenue, which strips out the impact of acquisitions and divestitures, climbed 18% in the quarter.
Despite the suspension of its Russian business, the company reiterated its full-year outlook of revenue growth of 7% to 8% and comparable earnings per share growth of 5% to 6%.
Read the full earnings report here.
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