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.