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Coca-Cola lifts profit forecast on rising soda demand -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – Coca-Cola cans are seen in the fridge during an event held in Paris (France), March 21 2019. REUTERS/Benoit Tessier

(Reuters) – Coca-Cola Co (NYSE:) Co revised its full-year profit projection on Wednesday. This was due to increased demand for Coca-Cola sodas from Americans after the reopenings of theatres and restaurants across the country. Its stock rose 2% premarket trading

Coca-Cola North America revenue grew 13% in its third quarter thanks to the vaccine-aided opening of public venues throughout the United States.

To counter the effects of surging freight and commodity costs, the company raised its prices.

Coca-Cola predicts that the annual adjusted earnings per shares will increase 15% to 17% compared to its prior forecast of a 13%- 15% rise.

The adjusted net operating revenue grew to $10.04 trillion in the quarter that ended October 1, from $8.65 Billion a year prior, as compared to estimates of $9.75 Billion, IBES data by Refinitiv.

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