Coca-Cola Earnings: In the March quarter, the Coca-Cola Company earned USD 290 million from India by refranchising its bottling operations in three key markets. Hindustan Coca-Cola Beverages divested its company-owned bottling operations in Rajasthan, Bihar, Northeast, and parts of West Bengal to existing bottlers, resulting in net gains of USD 293 million. Despite a 2 percent decline in unit case volume in the Asia Pacific market zone, the company saw growth in the India market.
In the March quarter, the Coca-Cola Company earned USD 290 million from India by refranchising its bottling operations in three key markets. Hindustan Coca-Cola Beverages divested its company-owned bottling operations in Rajasthan, Bihar, Northeast, and parts of West Bengal to existing bottlers, resulting in net gains of USD 293 million. Despite a 2 percent decline in unit case volume in the Asia Pacific market zone, the company saw growth in the India market.
Coca-Cola Co. (KO), while reporting higher third-quarter profit and revenues, on Tuesday updated fiscal 2023 forecast. For the year, the company now expects to deliver comparable currency neutral earnings per share growth of 13 percent to 14 percent and comparable earnings per share growth of 7 percent to 8 percent from last year's $2.
Organic revenue, which excludes the impact of currency shifts and acquisitions, increased by 12% in the quarter, above the 9.6% average analyst estimate. Adjusted earnings of 68 cents a share exceeded the estimated 65 cents.