Coca-Cola revenue soars in first quarter

Coca-Cola was among the companies to suspend operations in Russia after it invaded neighbouring Ukraine. The worlds largest beverage maker posted revenue of USD 10.49 billion in the period, also exceeding industry analyst forecasts of USD 9.91 billion.Shares of The Coca-Cola Co. rose slightly before the opening bell.

Sales at Coca-Cola surged 16 per cent during the first quarter as crowds returned to movie theaters, music venues and sport stadiums. Coca-Cola was among the companies to suspend operations in Russia after it invaded neighbouring Ukraine. But on Monday, it stuck by earlier revenue growth projections of 7 per cent to 8 per cent and per-share growth of 5 per cent to 6 per cent for the year. The Atlanta company posted net income of USD 2.78 billion, or 64 cents per share, topping Wall Street's expectations for per-share earnings by 6 cents, according to a survey by Zacks Investment Research. The world's largest beverage maker posted revenue of USD 10.49 billion in the period, also exceeding industry analyst forecasts of USD 9.91 billion.

Shares of The Coca-Cola Co. rose slightly before the opening bell.