In a really good money performance, Coca-Cola did even better than expected, making more money than analysts thought they would. This shows that lots of people want to buy their drinks like Fanta and Fairlife. Also, Coca-Cola, which is based in Atlanta, said they think they’ll make even more money this year.
On Tuesday, Coca-Cola shared how much money they made in the last three months, and it was more than what experts thought. The experts guessed they’d make 70 cents for each share, but they made 72 cents. They also made $11.30 billion, which is more than the $11.01 billion they were expected to make.
Coca-Cola’s profit went up to $3.18 billion, or 74 cents per share. That’s a little more than the $3.11 billion, or 72 cents a share, they made last year. Even though they had to deal with a $760 million charge because of their sports drink brand, Bodyarmor, they still made more money.
John Murphy, who’s in charge of the money stuff at Coca-Cola, said this charge happened because they’re facing more competition in the sports drink market, especially from a new brand called Prime Energy.
The company also sold more drinks, making 3% more money than last year. They made $11.30 billion, and 11% of that money came from selling more drinks, not counting new acquisitions or money changes. But even though more drinks were sold worldwide, the number of drinks sold in North America stayed the same.
The CEO of Coca-Cola, James Quincey, said Americans are still buying drinks, but people with less money aren’t buying as much. Even with this problem, their most popular drinks like Coke, Fanta, and Sprite are still selling well. They’re also changing some of their drinks to fit what people want.
One area where they didn’t do as well was selling water, sports drinks, and coffee. They sold 2% fewer of these drinks this time. This is because fewer people are buying bottled water, sports drinks, and coffee.
Prices went up by 13% compared to last year, mainly because of big price increases in places like Argentina. This is part of Coca-Cola’s plan to make more money.
Now, Coca-Cola thinks they’ll make between 8% and 9% more money this year, which is higher than before when they thought they’d make between 6% and 7% more. They also think they’ll make 4% to 5% more money compared to last year.
For the next three months, Coca-Cola expects to make less money because of changes in currency and some other things. They think they’ll lose about 6% of their money because of the currency and 5% to 6% because of other changes. Also, they expect to make 8% to 9% less money per share because of currency changes.
This good news for Coca-Cola shows that they’re good at dealing with changes in the market and still making money for their shareholders. As they keep coming up with new ideas and changing their drinks to fit what people want, investors and experts will be watching to see how they do in the future.
