Business

Coca-Cola revenue soars in first quarter

Posted April 25, 2022 7:00 am

The Associated Press

Sales at Coca-Cola surged 16% during the first quarter as crowds returned to movie theaters, music venues and sport stadiums.

Coca-Cola was among the companies to suspend operations in Russia after it invaded neighboring Ukraine. But on Monday, it stuck by earlier revenue growth projections of 7% to 8% and per-share growth of 5% to 6% for the year.

The Atlanta company posted net income of $2.78 billion, or 64 cents per share, topping Wall Street's expectations for per-share earnings by 6 cents, according to a survey by Zacks Investment Research.

The world's largest beverage maker posted revenue of $10.49 billion in the period, also exceeding industry analyst forecasts of $9.91 billion.

Shares of The Coca-Cola Co. rose slightly before the opening bell.

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A portion of this story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KO at https://www.zacks.com/ap/KO

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