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Coca-Cola raises annual sales, profit forecasts on steady demand
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Coca-Cola raises annual sales, profit forecasts on steady demand
Jul 23, 2024 4:09 AM

July 23 (Reuters) - Coca-Cola raised its annual

organic sales and profit forecast on Tuesday, signaling strong

demand for the beverage giant's sodas, energy drinks and juices

in its U.S. and international markets.

The company's shares rose nearly 2% in premarket trading.

Coca-Cola has been foraying into newer regions in Asia

and Europe to keep its revenue growth intact and launching

reformulated versions of its drinks such as Coke Spiced and

Georgia Coffee in markets that are quickly turning

price-sensitive.

The soda giant expects fiscal 2024 organic sales to grow

between 9% and 10%, compared with a previous forecast of 8% to

9% rise.

The company expects fiscal 2024 adjusted profit to increase

between 5% and 6%, compared with its previous forecast of a rise

of between 4% and 5%.

(Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by

Anil D'Silva)

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