Coca-Cola, the world's largest soft drink manufacturer, reported adjusted earnings and revenue that surpassed expectations. However, the company experienced an unexpected drop in product sales volume. In its latest quarterly report, the company disclosed a 1% year-over-year decline in sales volume, primarily due to a 2% decrease in concentrate sales. Coca-Cola attributed this decline to delays in shipment timing.
In the Asia-Pacific and Europe, Middle East & Africa regions, sales volumes decreased by 2%. Meanwhile, in North America and Latin America, sales remained flat. Despite the decrease in sales volume, Coca-Cola's adjusted earnings and revenue exceeded market forecasts due to increased product prices.
The company announced an adjusted earnings per share (EPS) of $0.77, with revenue declining 0.8% to $11.85 billion. Analysts had projected an EPS of $0.75 and revenue of $11.65 billion.
