The Coca-Cola Company (NYSE:KO) has raised its full-year guidance following second-quarter results that should keep shareholders sated for now.
The company saw a 3% increase in revenues to $12.4 billion while operating income improved by 10%.
Operating margins improved to 21.3% from 20.1% in the previous year, although earnings per share dipped 5% due to currency headwinds.
“We are encouraged with our second-quarter results, which delivered solid topline and operating income growth in an ever-changing landscape,” said chairman and CEO James Quincey.
“Together with our bottling partners, we continue to execute our highly effective all-weather strategy, and we are confident in our ability to deliver on our raised 2024 guidance and longer-term objectives,” he added.
As a result, Coca-Cola increased its full-year revenue growth estimates from between 8% and 9% previous to between 9% and 10%.
Coca-Cola returned $2 billion to shareholders in the form of dividends and repurchased shares worth $1.5 billion during the quarter.
Shares added 1% in Tuesday’s pre-market trading session.