Coca-Cola on Tuesday reported quarterly revenue that beat analysts’ expectations, driven by higher prices on its drinks.
Shares of the company rose 1% in premarket trading.
Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:
- Earnings per share: 45 cents adjusted vs. 45 cents expected
- Revenue: $10.13 billion vs. $10.02 billion expected
The beverage giant reported fourth-quarter net income attributable to the company of $2.03 billion, or 47 cents per share, down from $2.41 billion, or 56 cents per share, a year earlier.
Excluding items, Coke earned 45 cents per share.
Net sales rose 7% to $10.13 billion.
Looking to 2023, Coke is projecting comparable revenue growth of 3% to 5% and comparable earnings per share growth of 4% to 5%. Wall Street was forecasting revenue growth of 3.9% and earnings per share growth of 3% for the year.
Read the Coca-Cola earnings report here.
