Coca Cola beats quarterly revenue expectations as thirst for hospitality returns
Coca-Cola Co surpassed quarterly revenue expectations after raising prices and the reopening of theatres and restaurants.
In results published on Monday, the firm said demand for soft drinks had come back with zest after entertainment and hospitality venues had reopened with the easing of Covid restrictions.
Net revenue lifted 16 per cent to $10.5bn in the first quarter of the year, beating analyst expectations of $9.83bn, according to Refinitiv data.
However, the soft drinks titan warned its suspension of operations in Russia would result in a hit to annual profit worth four cents per share.