In an announcement made Today, Coca-Cola (NYSE: NYSE:KO) reported exceeding analysts' expectations in their third-quarter earnings. The beverage giant posted an adjusted earnings of $0.74 per share and net revenues of $12 billion, marking a 7% and 8% annual increase respectively. These figures surpassed the anticipated earnings per share (EPS) of $0.69 and revenue forecast of $11.4 billion.
James Quincy, CEO of Coca-Cola, lauded the strong quarterly results and attributed the company's marketplace success to their elite brand portfolio and motivated system. Encouraged by the impressive year-to-date performance, Quincy raised the company's full-year financial guidance.
The company now projects a 10%-11% adjusted organic revenue growth for the full year, an upward revision from its initial outlook of 8-9%. Moreover, Coca-Cola anticipates a 7-8% increase in comparable earnings per share, a significant leap from the initial prediction of 5-6%. However, the company also foresees currency headwinds impacting its 2024 comparable net revenues.
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