The Coca-Cola Company has raised its full-year guidance after its net revenue expanded 8 percent to US$12 billion for the third quarter.
The US-headquartered company saw net revenues increase in most of its markets, including Europe, Middle East & Africa (10 percent), Latin America (24 percent), and North America (6 percent). Meanwhile, revenues in Asia Pacific declined 2 percent.
Revenues of global ventures and bottling investments were up 15 percent and 4 percent, respectively.
Global unit case rose 2 percent and operating income grew 6 percent, with earnings per share up 9 percent to $0.71.
“We delivered an overall solid quarter and are raising our full-year topline and bottom-line guidance in light of our year-to-date performance,” said James Quincey, chairman and CEO of The Coca-Cola Company.
“Our leading portfolio of brands, coupled with an aligned and motivated system, positions us to win in the marketplace today while also laying the groundwork for the long term.”
The company expects to deliver organic revenue growth of 10-11 percent. For comparable net revenues, it anticipates a 4 percent currency headwind based on the current rates and including the impact of hedged positions.