Coca-Cola Lifts FY21 Earnings, Revenue Growth View - Quick Facts

(RTTNews) - Beverages giant Coca-Cola Co. (KO), while announcing higher third-quarter results on Wednesday, raised its fiscal 2021 forecast for earnings and revenue growth.

In pre-market activity on the NYSE, Coca-Cola shares were gaining around 2.8 percent to trade at $56.01.

For fiscal 2021, the company now projects comparable earnings to grow in a range of 15 to 17 percent from the $1.95 per share reported in 2020,. It also projects organic revenue growth of 13 to 14 percent.

The company previously expected full-year comparable earnings to grow in a range of 13 to 15 percent and organic revenue growth of 12 to 13 percent.

James Quincey, Chairman and CEO, said, "We are updating our full-year guidance to reflect another quarter of momentum in the business. While the recovery continues to be asynchronous around the world, we are investing for growth to drive long-term value for the system. Our strong system alignment and networked organization are helping us unlock enormous potential in our brands and across our markets."