Why Coca-Cola Shares Are Shooting Higher Today
Portfolio Pulse from Shivani Kumaresan
Coca-Cola Company (NYSE:KO) reported Q3 FY23 sales growth of 8% YoY to $11.95 billion, beating the analyst consensus estimate of $11.44 billion. The company also raised its FY23 organic revenue growth outlook from 8%-9% to 10%-11%. KO shares are trading higher by 2.81% at $55.60 in premarket on the last check Tuesday.
October 24, 2023 | 12:58 pm
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POSITIVE IMPACT
Coca-Cola's Q3 FY23 sales growth and raised FY23 organic revenue growth outlook could positively impact its stock price.
Coca-Cola's better-than-expected Q3 sales and raised FY23 outlook indicate strong performance and future growth, which are likely to boost investor confidence and drive the stock price up.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100