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00:02Coca-Cola reported quarterly earnings and revenue that exceeded analysts' expectations
00:07driven by stronger demand for its beverages, according to CNBC.
00:11Adjusted earnings per share of $0.86 and revenue of $12.47 billion
00:16both exceeded expectations of $0.81 per share and $12.24 billion.
00:21The beverage giant raised its full-year comparable earnings per share growth forecast
00:26to 8% to 9% from 7% to 8% and reiterated its organic revenue growth outlook of
00:324% to 5%.
00:34First quarter net income came in at $3.92 billion or $0.91 per share
00:39up from $3.33 billion or $0.77 per share a year earlier.
00:46Coca-Cola executives said demand has been weaker among budget-conscious consumers
00:50while premium brands supported by higher-income shoppers remained strong.
00:54All of Coca-Cola's operating segments reported volume growth with North America volume rising 4%.
01:01Coke's water, sports, coffee, and tea segment led global growth with a 5% volume increase
01:08driven by stronger demand for tea and bottled water.
01:11Shares rose over 2% in Tuesday's pre-market trading.
01:14For all things money, visit Benzinga.com.
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