On May 1st, according to Coca Cola's Q1 2024 financial report, the company's revenue for the first quarter was $11.3 billion, a year-on-year increase of 3%, exceeding market expectations of $10.97 billion; Earnings per share was $0.72, a year-on-year increase of 7%, higher than market expectations of $0.7.
The financial report shows that Coca Cola's global single box sales increased by 1% year-on-year. Among them, carbonated beverages and fruit juice categories performed well. Specifically, the global sales of carbonated beverages increased by 2%. The flagship brand "Coca Cola" saw a global sales growth of 2%, mainly driven by growth in the Latin American, Asia Pacific, and North American markets; Sugar free Coca Cola's global sales increased by 6%; Global sales of juice drinks, dairy products, and plant-based beverages increased by 2%.
In the first quarter financial report, Coca Cola Company raised its 2024 full year performance guidance, with an expected organic revenue growth rate of 8% to 9% for the year, higher than the previously expected 6% to 7%; The growth rate of comparable currency neutral earnings per share (non GAAP) has been raised to 11% to 13%, higher than previously expected 8% to 10%.
"Our opening performance in 2024 has been very encouraging, as we have once again achieved growth in sales, revenue, and profitability in a changing market environment this quarter." James Quincey, Chairman and CEO of Coca Cola, said, "Our global system is ready for sustained success."