AssetID: 53460046
Headline: UNCAPTIONED: Coke Overcomes Declining Demand to Post Strong Q4 Sales
Caption: Coke Overcomes Declining Demand to Post Strong Q4 Sales. ABC reports that Coca-Cola posted higher- than-expected revenue in Q4, as lower demand in the United States was offset by growth in Mexico, Germany and other markets. On February 13, the Atlanta-based beverage giant said that revenue increased 7% to reach $10.8 billion between October and December. According to analysts polled by FactSet, the final numbers exceeded Wall Street's prediction of $10.7 billion. Coca-Cola projected 6% to 7% of full-year organic revenue growth in 2024, down from 12% growth in 2023. ABC reports that the company's gains were driven by sparkling soft drinks, juices and Coca-Cola Zero Sugar, while demand for sports drinks, coffee and tea fell. According to Coca-Cola, prices increased by 8% in Q4. The Q4 price increase, combined with double digit increases in 2023, have driven some consumers to switch to cheaper store brands. Meanwhile, the company saw unit case volumes grow in other global markets. Net income dropped 3% to reach $1.9 billion, or about 46 cents per share. After posting the Q4 results, shares in Coke rose nearly 1% in premarket trading. THIS VIDEO MUST NOT BE EDITED FOR LENGTH TO COMBINE WITH OTHER CONTENT
Keywords: Coke,Coca-cola,Decline,Demand,Post Strong Q4 sales,United States,Markets,Germany,Mexico,Wall Street,Prediction,Projected,Organic,Revenue
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