Sales are steadily improving at Coca-Cola Co. as vaccinations allow for the opening of stadiums, restaurants and theaters in many regions globally.
Sales rose 5% in the January-March period this year, the Atlanta company said Monday, helped by strong growth in China and India. But the recovery is uneven. Case volume declined in North America and Europe, where many dining rooms and other venues remain closed.
Net income dropped 19% to $2.2 billion in the first quarter. Excluding one-time items, the company earned 55 cents per share. That exceeded Wall Street’s forecast of 50 cents, according to analysts polled by FactSet.
Coke’s revenue rose 5% to $9.0 billion, ahead of the $8.6 billion analysts had forecast.