Coca-Cola tops estimates, raises earnings outlook as global beverage demand rises

Coca-Cola on Tuesday reported quarterly earnings and revenue that topped analysts’ expectations.

For the full year, Coke is now projecting comparable earnings per share growth of 8% to 9%, up from its prior forecast of 7% to 8%. It reiterated its prior outlook of organic revenue growth of 4% to 5%.

Shares of the company rose 1% in premarket trading.

Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:

• Earnings per share: 86 cents adjusted vs. 81 cents expected
• Revenue: $12.47 billion adjusted vs. $12.24 billion expected

Excluding items, the beverage giant earned 86 cents per share.

Adjusted net sales climbed 12% to $12.47 billion.