Coca-Cola sales surge as restaurants, venues reopen

Coca-Cola enjoyed a 37 percent revenue spike in the quarter ended July 2, with shares fizzing 2.3 percent higher on Wall Street on Wednesday.

Coca-Cola Co.’s sales beat expectations in the second quarter and the soda maker raised its revenue forecast for the year as it saw a significant bounce back in its business, a stark contrast to the pandemic-related lockdowns that diminished sales last year. Coke’s organic revenue, which excludes the impact of currency or acquisitions, climbed 37% in the quarter ended July 2, the Atlanta-based company said in a statement Wednesday. Analysts had been expecting 29.3% growth, according to forecasts compiled by Bloomberg. Earnings of 68 cents a share topped analysts’ estimate of 56 cents.