Coca-Cola’s revenue rose, exceeding analysts’ forecasts
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The Coca-Cola Corporation reportedthat in the fourth quarter its revenue amounted to $ 10.1 billion, which is 7% more than a year earlier and higher than analysts’ forecasts, interviewed Refinitiv, which was expecting $10 billion. Revenue per share was $0.45, which was in line with analysts’ forecasts. At the same time, the company’s net profit decreased by 16%, to $2.1 billion.
For full-year 2022, the company’s revenue grew 11% to $43 billion, while net income fell 2% to $9.6 billion. reflected in the suspension of business in Russia.
Coca-Cola noted that the continued rise in commodity prices is likely to lead to higher prices for its products. “While the European economy is likely to avoid a recession, consumer demand will be weakened there – and I think that this situation will continue throughout 2023,” CEO James Quincy said.
After the publication of financial statements, Coca-Cola shares fell 1%.
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