Coca-Cola reports better-than-expected Q4 sales despite lower US demand
Coca-Cola reported higher-than-expected revenue in the fourth quarter as growth in Mexico, Germany and other markets offset lower sales in the U.S. The Atlanta-based beverage giant said Tuesday its revenue rose 7% to $10.8 billion for the October-December period
By DEE-ANN DURBIN
Published - Feb 13, 2024, 07:21 AM ET
Last Updated - Feb 13, 2024, 12:11 PM EST
Coca-Cola (KO) reported higher-than-expected revenue in the fourth quarter as growth in Mexico, Germany and other markets offset lower sales in the U.S.
Revenue rose 7% to $10.8 billion for the October-December period, the Atlanta beverage giant said Tuesday. That topped Wall Street’s forecast of $10.7 billion, according to analysts polled by FactSet.
Unit case volumes rose 2% in the quarter, led by sparkling soft drinks, juices and Coca-Cola Zero Sugar. Sports drinks, coffee and tea all saw lower demand.
Net income fell 3% to $1.9 billion, or 46 cents per share. Without one-time items, including restructuring costs, the company earned 49 cents per share. That was in line with Wall Street’s forecast.
