Coca-Cola: raises 2019 guidance on strong organic growth
(CercleFinance.com) - Coca-Cola raised its outlook for 2019 on Tuesday, citing "continued momentum" at the end of the second quarter.
Coke's second-quarter net income rose to 2.6 billion dollars, or 61 cents per share, from 2.3 billion, or 54 cents per share, a year earlier.
Net revenues grew 6% to 10 billion dollars, with organic revenues up 6%, it said.
The Atlanta-based company said its strong performance was driven by sparkling soft drinks, led by 4%growth in volumes and transactions in trademark Coca-Cola, with Coca-Cola Zero Sugar posting a seventh consecutive quarter of double-digit volume growth globally.
In its statement, the group said it now expects 5% growth in organic revenues this year, compared to 4% in its previous estimates, with 11% to 12% growth in operating income.
It previoulsy expected 10% to 11% growth in comparable currency neutral operating income for 2019.
Coca-Cola shares were up over 3% in pre-market trading on Tuesday.
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