Home Finance Coca-Cola (KO) Q2 2021 earnings

Coca-Cola (KO) Q2 2021 earnings

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A shopper scans a case of Coca-Cola Co. soft drinks at a store in Orem, Utah, U.S., on Tuesday, Feb. 9, 2021.

George Frey | Bloomberg | Getty Images

Coca-Cola on Wednesday reported second-quarter revenue that surpassed 2019 levels, prompting the company to raise its full-year outlook.

Shares of the company rose nearly 2% in premarket trading.

Here’s what the company reported, compared with what Wall Street analysts surveyed by Refinitiv were expecting:

  • Earnings per share: 68 cents vs. 56 cents expected
  • Revenue: $10.13 billion vs. $9.32 billion expected

Coke reported fiscal second-quarter net income of $2.64 billion, or 61 cents per share, up from $1.78 billion, or 41 cents per share, a year earlier.

Excluding items, the company earned 68 cents per share, beating the 56 cents per share expected by analysts surveyed by Refinitiv.

Net sales rose 42% to $10.13 billion, topping expectations of $9.32 billion.

For the full year, Coke now expects to deliver organic revenue growth of 12% to 14%, up from its prior outlook of high-single digit growth. The company also raised its forecast for adjusted earnings per share growth to 13% to 15%, up from the prior range of high single digits to low double digits.

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