Coke sales surge in Q2 as re-openings gain momentum
(AP) — Coca-Cola’s sales are rebounding faster than expected as the impact of the pandemic abates.
The Atlanta-based soft drink giant said its revenue jumped 42% to $10.1 billion in the April-June period. That was well ahead of Wall Street’s forecast and slightly better than the same period in 2019. Coke Chairman and CEO James Quincey said the recovery remains uneven, but as vaccination rates increase, consumers are returning to their pre-pandemic routines.
Coke saw growth in fountain demand as restaurants, stadiums, movie theaters and other venues reopened. The company raised its earnings forecast for the year based on the results.