World News | Coca-Cola Revenue Soars in First Quarter

Washington, Apr 25 (AP) Sales at Coca-Cola surged 16 per cent during the first quarter as crowds returned to movie theaters, music venues and sport stadiums.

Coca-Cola was among the companies to suspend operations in Russia after it invaded neighbouring Ukraine.

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But on Monday, it stuck by earlier revenue growth projections of 7 per cent to 8 per cent and per-share growth of 5 per cent to 6 per cent for the year.

The Atlanta company posted net income of USD 2.78 billion, or 64 cents per share, topping Wall Street's expectations for per-share earnings by 6 cents, according to a survey by Zacks Investment Research.

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The world's largest beverage maker posted revenue of USD 10.49 billion in the period, also exceeding industry analyst forecasts of USD 9.91 billion.

Shares of The Coca-Cola Co. rose slightly before the opening bell. (AP)

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)