Coca-Cola's Q1 revenue rises 16% to $10.5B
The Coca-Cola Co. stated on Monday that its revenue in the first quarter came to $10.5 billion, increasing 16% annually and exceeding expectations of around $9.8 billion. The earnings per share (EPS) were up 23% year-on-year to $0.64. Net income was up 24% to $2.8 billion. The company estimated its decision to suspend business in Russia will have a 1%-2% impact on net revenues and operating income and a $0.04 impact on comparable EPS.
"We are pleased with our first-quarter results as our company continues to execute effectively in a highly dynamic and uncertain operating environment,” said CEO James Quincey. "We are confident in our full-year guidance, and we are well-equipped to win in all types of environments as we fuel strong topline momentum and create value for our stakeholders."
Coca-Cola's shares fell by 0.48% in premarket trade following the announcement.