Coca-Cola beats expectations, raises guidance

Coca-Cola Co. KO, +0.18% shares roseate 2.6% successful Wednesday premarket trading aft the beverage elephantine reported second-quarter net that bushed expectations and raised its full-year guidance. Net income totaled $2.64 billion, oregon 61 cents per share, up from $1.78 billion, oregon 41 cents per stock past year. Adjusted EPS of 68 cents bushed the FactSet statement for 56 cents. Revenue of $10.13 cardinal roseate from $7.15 cardinal past twelvemonth and was besides up of the FactSet statement for $9.31 billion. Coca-Cola's stock of the non-alcoholic ready-to-drink class has surpassed 2019 levels, with planetary portion lawsuit volumes rising 18% during the quarter. "Our results successful the 2nd 4th amusement however our concern is rebounding faster than the wide economical recovery, led by our accelerated transformation," said Chief Executive James Quincey successful a statement. For 2021, Coca-Cola present forecasts EPS maturation of 12% to 15% from $1.95 successful 2020, up from erstwhile guidance of high-single digit to low-double digit growth. The FactSet statement is for EPS of $2.18, suggesting an 11.9% rise. Coca-Cola banal is up 1.8% for the twelvemonth to day portion the benchmark Dow Jones Industrial Average DJIA, +1.62% has gained 12.8% for the period. See: Coca-Cola Zero Sugar gets a look refresh