Vintage Coca-Cola bottles are seen successful a store model successful Manhattan, New York City, connected July 15, 2024.
Beata Zawrzel | Nurphoto | Getty Images
Coca-Cola connected Wednesday posted third-quarter net and gross that topped expectations.
Here is however the institution performed compared with estimates from Wall Street analysts surveyed by LSEG:
- Earnings per share: 77 cents adjusted vs. 74 cents expected
- Revenue: $11.95 cardinal vs. $11.60 cardinal expected
In caller quarters, Coke has been besting rival PepsiCo, which has been wounded by the fallout from the Quaker foods recalls, a slowdown successful snacking and lagging vigor portion sales.
Coke has reported beardown request successful its planetary markets, helping offset weaker request successful the U.S. In its location market, consumers person been eating retired less, denting the company's off-premise income and prompting Coke to spouse with chains to connection combo meals.
Despite home challenges, Coke hiked its full-year outlook past quarter, and executives expressed assurance successful the company's quality to conscionable those targets for the 2nd fractional of the year. For 2024, Coke expects integrated gross maturation of 9% to 10% and comparable net maturation successful a scope betwixt 5% and 6%.
Shares of Coke person risen 18% this year, raising the company's marketplace worth to astir $300 billion.
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