Coca-Cola raises revenue forecast as demand rebounds on reopening boost

Reuters2021-07-21

(Reuters) -Coca-Cola raised its full-year sales and profit forecasts on Wednesday, as demand rebounds for its beverages from the re-opening of theaters, restaurants and stadiums.

Shares of the world’s largest soda maker rose 2% in early trading.

Revenue in Coca-Cola’s North America business rose 28% in the second quarter, helped by the vaccine-aided reopening of public venues and easing of capacity restrictions across the United States.

The company said it expects annual organic revenue to rise 12% to 14%, compared with its prior forecast of a high single digits increase.

Annual adjusted earnings per share are expected to rise 13% to 15%, compared with a prior forecast of a high single digits to low double digits increase.

Net revenue rose 42% to $10.1 billion in the second quarter ended July 2. The company had reported a 28% slump in total net revenues in the year-ago quarter due to the lockdowns.

Coca-Cola rose over 2% in premarket trading.

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