Coca-Cola's sales surge with accelerated reopening of venues
Source Toronto Star
Coca-Cola Co.'s sales beat expectations in the second quarter and the soda maker raised its revenue forecast for the year as it saw a significant bounce back in its business, a stark contrast to the pandemic-related lockdowns that diminished sales last year.
Coke's organic revenue, which excludes the impact of currency or acquisitions, climbed 37 per cent in the quarter ended July 2, the Atlanta-based company said in a statement Wednesday. Analysts had been expecting 29.3 per cent growth, according to forecasts compiled by Bloomberg. Earnings of 68 cents a share topped analysts' estimate of 56 cents.