Coke sales rise 10% in Q4 as omicron fails to halt demand

Coca-Cola posted better-than-expected sales in the fourth quarter as venues like coffee shops and movie theaters continued to reopen

Coca-Cola and posted better-than-expected sales in the fourth quarter as the omicron variant barely registered and venues like coffee shops and movie theaters continued to reopen around Revenue rose 10% to $9.5 billion in the October-December period. That beat Wall Street's forecast of $8.98 billion, according to analysts polled by FactSet.

The World Heath Organization named omicron as a variant of concern in late November, triggering lockdowns in some parts of the world. Chairman and CEO James Quincey said there was some impact in December and January, but the disruption was not as great as previous waves of the virus.

Quincey said a restructuring announced in late 2020, which reduced the company's business segments and cut 200 slow-selling drinks like Tab and Odwalla juices, left Coke more nimble and better able to redirect marketing and other resources.

“It was pruning the garden to let the better flowers grow,” Quincey said.