The Coca-Cola Company (NYSE: KO) on Thursday posted a 16% increase in the revenues in Q4 to $9.1 billion, driven by concentrate sales growth of 2% and price/mix growth of 5%. This was above analysts’ projection of $8.89 billion.
While revenues from EMEA declined slightly, this was offset by growth in the Americas and the Asia Pacific.
Meanwhile, Q4 profit of $0.44 per share was a cent higher than the Wall Street view.
Sparkling soft drinks grew 3% in the quarter, driven by strong growth in China, Brazil and Southeast Asia.
For full-year 2020, the beverage giant expects to deliver a comparable adjusted EPS of about $2.25 versus $2.11 in 2019, up 7% YoY.
READ: Starbucks beats Q1 EPS estimate by 4 cents; some Chinese outlets closed due to epidemic outbreak
Following the announcement of better-than-expected results, investors sent the stock up 1.5% during pre-market trading hours on Thursday. In the trailing 12 months, the stock has gained 19%.
“We continue to transform the organization to act with a growth mindset, which gives us confidence in our 2020 targets and our ability to create a better-shared future for all of our stakeholders,” CEO James Quincey said in a statement.
Rival PepsiCo (NYSE: PEP) is scheduled to report financial results on February 13.
Get access to timely and accurate verbatim transcripts that are published within hours of the event.
Most Popular
QCOM Earnings: Qualcomm Q2 2024 revenue and profit beat Street view
Semiconductor company Qualcomm, Inc. (NASDAQ: QCOM) reported an increase in earnings and revenues for the second quarter of 2024. The numbers came in above analysts' estimates. At $9.39 billion, March-quarter
Key takeaways from Amazon’s Q1 2024 earnings report
Amazon.com Inc. (NASDAQ: AMZN) had an upbeat start to fiscal 2024, delivering strong growth across the business in the first three months of the year. While the cloud segment continues
Key takeaways from Pfizer’s (PFE) Q1 2024 earnings report
Shares of Pfizer Inc. (NYSE: PFE) gained over 5% on Wednesday following the company’s announcement of its first quarter 2024 earnings results. Although the top and bottom line numbers decreased