Coca-Cola (KO) Q1 2023 results


A pedestrian walks past a Coca-Cola delivery truck in Mexico City, Mexico, Wednesday, Jan. 25, 2023.

Jeoffrey Guillemard | Bloomberg | Getty Images

Coca Cola Monday reported quarterly earnings and revenue that beat analysts’ expectations, fueled by price hikes and increased demand for its beverages.

Shares of the company rose 1% in premarket trading.

Here’s what the company reported compared to what Wall Street expected, based on a Refinitiv analyst survey:

  • Earnings per share: 68 cents adjusted vs. 64 cents expected
  • Revenue: $10.96 billion adjusted vs. $10.8 billion expected

Coke reported first-quarter net income attributable to shareholders of $3.11 billion, or 72 cents per share, compared with $2.78 billion, or 64 cents per share, a year earlier.

Excluding articles, the beverage giant earned 68 cents per share.

Net sales rose 5% to $10.98 billion. Organic revenue, which excludes the impact of acquisitions and divestitures, increased 12% in the quarter.

The company reiterated its earlier guidance for 2023. It expects comparable revenue growth of 3% to 5% and comparable earnings per share growth of 4% to 5% for 2023.

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