Coca-Cola (KO) posted better-than-expected results for the first quarter and raised𒐪 its outlook as it benefiteℱd from higher prices, though volume growth was soft. 

Revenue, EPS Beat Forecasts on Higher Prices

Coca-Cola reported first-quarter 澳洲幸运5开奖号码历史查询:diluted earnings per share (EPS) of 74 cents, up from 72 cents in the year-ago period and above analysts' estimates. Revenue advanced 2.9% year-over-year to $11.3 billion, also beating forecasts. The company noted that revenue got a boost from a 13% increase in price/mix, while concentrate sales dipped 2%. Unit case volume was 1% higher.

Demand in Latin America Also Boosts Results

The results were boosted by demand in the Latin America market, which had a 22% jump in price/mix and 4% gain in unit case volume. Coca-Cola's price/mix in 澳洲幸运5开奖号码历史查询:Europe, the Middle East, and Africa was also up 22%, with volume rising 2%. 

North American price/mix added 7%, but volume was unchanged. Coca-Cola noted that water, sports, coffee, and tea drinks volume dec🐓line🅰d.

Coca-Cola Raises Guidance

CEO James Quincey said the fi😼rm was encouraged by the performance “amidst a dynamic backdrop.”

Coca-Cola raised its guidance, projecting full-year sales will rise 8% to 9%, up from its previous estimate of 6% to 7% growth. Coke noted it anticipate🌳s more price hikes in regions “experiencing intense inflation.”

Shares of Coca-Cola were little changed following the release, edging 0.3% lower to $61.84 as of about 11:35 a.m. ET Tuesday. They've gained close to 5% since the start of the year.