Beverage giant Coca-Cola (KO) has reported quarterly financial results that topped Wall Street’s forecasts and raised its forward guidance.
Atlanta-based Coke announced earnings per share (EPS) of $0.97 U.S., which topped expectations of $0.93 U.S.
Revenue in the year’s second quarter totaled $13.38 billion U.S., which came out ahead of the $13.16 billion U.S. consensus expectation of analysts. Sales were up 7% from a year earlier.
The company’s global sales increased 5%, and every one of its reporting segments saw volume growth.
Management credited the strong results to higher demand for its various drinks.
As a result, Coca-Cola increased its full-year forecast, saying it now expects earnings growth of 9% to 10%, up from a previous forecast of 8% to 9%.
The soft drink maker also said that it expects revenue to increase 5% year-over-year, which is the high-end of its previous range of 4% to 5% growth.
In Coke’s earnings statement, CEO Henrique Braun said that the consumer environment remains “dynamic” but that the company has managed to grow its sales regardless.
Global oil prices have swung dramatically due to the U.S. war with Iran, leading consumers to temper their discretionary spending in some markets.
KO stock has risen 24% over the last 12 months to trade at $84.07 U.S. per share, near an all-time high.
