Coca-Cola's Q4 revenue grows 7% to $10.1B
The Coca-Cola Company announced on Tuesday that its net revenue for the fourth quarter of 2022 increased by 7% on a yearly basis to $10.1 billion, above estimates of around $9.95 billion. Meanwhile, operating income rose by 24% annually, while earnings per share (EPS) fell by 16% to $0.47. For the full year, net revenue added 11% compared to 2021 and reached $43 billion. Operating income was up 6% year-on-year, with the EPS dropping 3% to $2.19.
For the full year 2023, the company predicts organic revenue growth of 7% to 8%, with comparable EPS growth of 4% to 5%. It expects to generate a free cash flow of around $9.5 billion through cash flow from operations of approximately $11.4 billion.
Coca-Cola's shares gained 1.62% in premarket trade after the earnings release.