Buoyed by continued strong demand, Coca-Cola (KO) on Wednesday raised its projections for full-year 2023 profit and revenuജe after the beverage maker reported a double-digit earnings increase for the second quarter.

In its second-quarter 2023 results, Coca-Cola posted improved net revenue, up 6% year-over-year (YOY) to $12 billion, while its 澳洲幸运5开奖号码历史查询:earnings per share (EPS) increased 11% from the prior-year quarter to 78 cents. Due partly to price increases, the company also reported an increase of 11% in 澳洲幸运5开奖号码历史查询:organic revenue, which removes the revenue data associated with acquisitions or divestitures.

Free cash flow was $4 billion year-💯to-date, a decline of $45 million versus the first half of 2022, while the quarterly operating margin slipped to 20.1% from 20.7% i🌃n the 2022 second quarter. 

“I am encouraged that our all-weather strat🍒egy, working together with our bottling partners, has delivered strong second-quarter results,” CEO James Quincey said in a release. 

The Atlanta-based company raised its guidance for the year, now expecting to deliver revenue growth of 8% to 9%, up from its prior projection of 7% to 8%. 澳洲幸运5开奖号码历史查询:Coca-Cola also projects its earnings to increase 5% to 6% from the $2.48 a share it delivered in 2022, after previously forecasting an uptick of 4% to 5%.  ಞ

Global Case Volume Even, Offsetting U🌳S Decline with Mexico Growth

The soft-drink maker reported that its global unit case volume was even with its 2022 second-quarter performance. Unit case volume is a key metric in the beverage industry, measuring the total volume of drinks sold while taking out the effect that changes in 澳洲幸运5开奖号码历史查询:currency rates and prices can have on revenue. 

In North America, a 1% decline in the U.S. was partly offset by growth in Mexico. Coca-Cola was also able to move past its 澳洲幸运5开奖号码历史查询:suspension of business in Russia in 2022, helped by improv🐼ed sales in India and Brazil. 

The earnings report showed that while sales of sparkling soft drinks were flat, with the trademark 澳洲幸运5开奖号码历史查询:Coca-Cola brand declining in Europe, case volumes for Coca-Cola Zero Sugar increased 5% in North America and Latin America.