Coca-Cola bets on rising soda demand to forecast revenue surge
2024.10.23 07:58
(Reuters) -Coca-Cola said on Wednesday it expects annual organic sales at high-end of its previous range after posting a surprise quarterly rise on growing demand for its sodas and juices in the U.S., India and South Korea.
The company has been investing in emerging and developing markets by launching reformulated versions of its Sprite and Fanta and Fuze Tea in Europe as well as offering small pack sizes.
Its average selling prices rose 10% in the third quarter, while unit case volumes 1%.
The company expects fiscal 2024 organic sales to grow about 10% compared with a prior forecast of 9% to 10% rise.
Its net revenue rose to $11.95 billion from $11.91 billion a year earlier. Analysts had expected a 2.62% drop to $11.60 billion, according to LSEG data.
