Coca-Cola share price up 2% on Q1 earnings revenue beat
The soft drink company reported an uptick in sales to boost its Q1 earnings report.
|Earnings per share||$0.48|
|Net income||$1.68 billion|
Coca-Cola share price up 2% as Q1 earnings revenue beats estimates
Coca-Cola’s Q1 earnings per share were $0.48, beating financial experts’ expectations of $0.46. Coca-Cola’s Q1 revenue was $8.02 billion, topping projections of $7.88 billion. The company’s net income also grew to $1.68 billion from $1.33 billion in 2018.
International sales also helped improved Coca-Cola’s Q1 revenue. Ironically, the Brexit drama has been good for Coca-Cola’s Q1 profits. The uncertainty over Brexit led to a surge in sales because of customers stockpiling the beverage before the UK leaves the European Union (EU). North American sales grew by 1%, while increasing by 5% in Europe, Africa, and the Middle East.
Chief executive officer,(CEO), James Quincey, said in a statement that he was pleased with Coca-Cola’s Q1 results.
‘We’re encouraged by our first quarter results as our disciplined growth strategies continue to deliver strong underlying performance,’ said Quincey in a statement.
How did Coca-Cola Q1 results compare to other beverage brands?
Coca-Cola’s Q1 results were good compared to Pepsi’s Q1 earnings. The rival soft drink company’s revenue beat expectations and had record earnings on the strength of international purchases.
What’s next for Coca-Cola’s full-year outlook?
Coca-Cola’s earnings are expected to increase by 1% and revenue to grow by 4%. Coca’s Cola’s profits may improve later in 2019 after the purchase of Costa coffee is finalised later in 2019. Quincey touted Coca-Cola’s full-year outlook.
‘We remain confident in our full-year guidance as we continue to make progress on our transformation as a consumer-centric total beverage company,’ said Quincey.
Coca-Cola Q1 profits show growth through adjustment to trends
Coca-Cola’s Q1 profits grew as the beverage company changed its brand to adjust to customers’ changing tastes. The company had a double-digit growth in sales with its Coke Zero Sugar to match customers’ interests in healthier soft drinks. Coca-Cola’s water and sports drink brands also had sales increase by 6%.
‘Constant innovation is crucial for sustained growth,’ said Quincey.
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