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Coca-Cola Raises Full-Year Guidance

Coca-Cola (KO) ramped up its organic revenue growth guidance on Tuesday as it posted better-than-expected results for the second quarter that were supported by an expansion in concentrate sales and rising demand for its products in North America.

Revenue rose to $10 billion in the three months ended June 28, up from $9.42 billion in the corresponding quarter of the prior year. This was ahead of the consensus estimate of analysts polled by Capital IQ for $9.86 billion.

The jump was attributed to concentrate sales growth of 4% and price/mix growth of 2%. North America was the single biggest revenue contributor by region, with sales of $3.16 billion during the period, which was up 3% from a year earlier. Europe, the Middle East and Africa generated revenue of $1.93 billion, down 4% from a year earlier.

Latin America revenue of $1 billion was down 3% from a year earlier and Asia Pacific generated revenue of $1.54 billion, up 2%.

Also feeding into the results was volume and transaction growth in the trademark Coca-Cola drinks of 4%. The company said that Coca-Cola Zero Sugar registered a seventh consecutive quarter of double-digit volume growth globally.

Adjusted earnings per share came in at $0.63, up 4% from a year earlier and ahead of the Street’s forecast for $0.61 per share. The company said that the growth included the impact from a nine-point currency headwind.

Coca-Cola (KO) ramped up its organic revenue growth guidance on Tuesday as it posted better-than-expected results for the second quarter that were supported by an expansion in concentrate sales and rising demand for its products in North America.

Revenue rose to $10 billion in the three months ended June 28, up from $9.42 billion in the corresponding quarter of the prior year. This was ahead of the consensus estimate of analysts polled by Capital IQ for $9.86 billion.

The jump was attributed to concentrate sales growth of 4% and price/mix growth of 2%. North America was the single biggest revenue contributor by region, with sales of $3.16 billion during the period, which was up 3% from a year earlier. Europe, the Middle East and Africa generated revenue of $1.93 billion, down 4% from a year earlier.

Latin America revenue of $1 billion was down 3% from a year earlier and Asia Pacific generated revenue of $1.54 billion, up 2%.

Also feeding into the results was volume and transaction growth in the trademark Coca-Cola drinks of 4%. The company said that Coca-Cola Zero Sugar registered a seventh consecutive quarter of double-digit volume growth globally.

Adjusted earnings per share came in at $0.63, up 4% from a year earlier and ahead of the Street’s forecast for $0.61 per share. The company said that the growth included the impact from a nine-point currency headwind.

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