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Coca-Cola earnings beat estimates, as demand for its drinks begins to improve
Coca-Cola raised prices by 4% in North America and grew global volume 1%, with Coca-Cola Zero Sugar sales up 13%, amid a CEO transition scheduled for March 31.
- On Tuesday, The Coca‑Cola Co. reported adjusted EPS of 58 cents, two cents above estimates, with revenue of $11.8 billion up 2% but below expectations.
- Coca‑Cola said stronger U.S. demand helped the quarter despite higher prices, hiking prices 4% in North America and introducing 7.5‑ounce mini cans last month.
- Global unit case volumes grew 1%, led by Japan, Brazil and the U.S., with North America reversing flat results; Coca‑Cola Zero Sugar sales rose 13%, while water, sports drinks, coffee and tea strengthened.
- Net income rose 3% to $2.3 billion, but investors reacted as shares fell almost 4% before the opening bell.
- The December succession plan names Henrique Braun as CEO on March 31 and moves James Quincey to executive chairman as organic revenue grew 5% last year and 7.5-ounce mini cans launched last month.
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Coke demand rises in fourth quarter despite higher prices
Coca-Cola saw stronger U.S. demand in the fourth quarter despite higher prices. Global unit case volumes grew 1% for the October-December period, led by the U.S., Japan and Brazil, the Atlanta beverage giant said Tuesday. Unit case volumes also rose by 1% in North America, reversing several quarters of flat or declining sales. Coke said it hiked prices 4% in North America and 1% globally during the quarter. Coca-Cola Zero Sugar was a strong perf…
·Washington, United States
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Total News Sources21
Leaning Left7Leaning Right2Center10Last UpdatedBias Distribution53% Center
Bias Distribution
- 53% of the sources are Center
53% Center
L 37%
C 53%
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