A shopper scans a crate of Coca-Cola Co. soft drinks at a store in Orem, Utah, USA on Tuesday, February 9, 2021.
George Frey | Bloomberg | Getty Images
Coca-Cola on Wednesday reported second-quarter sales that exceeded 2019 levels, prompting the company to raise its outlook for the full year.
The company’s shares rose just under 2% in pre-market trading.
Here’s what the company said, compared to the expectations of Wall Street analysts surveyed by Refinitiv:
- Earnings per share: 68 cents vs. 56 cents expected
- Revenue: Expected $ 10.13 billion versus $ 9.32 billion
Coke reported net income of $ 2.64 billion, or 61 cents per share, for the second quarter, up from $ 1.78 billion, or 41 cents per share, a year earlier.
Without items, the company earned 68 cents per share, surpassing the 56 cents per share expected by the analysts surveyed by Refinitiv.
Net sales rose 42% to $ 10.13 billion, beating expectations of $ 9.32 billion.
For the full year, Coke now expects organic sales growth of 12% to 14%, above previous forecasts of high single-digit growth. The company also raised its forecast for adjusted earnings per share growth to 13 %-15%, from the previous high single-digit range to low double-digit.