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Coca-Cola raises year-end profit forecast

By Daniel Tyson


Red metal bottle top with the Coca-Cola logo
Coca-Cola, Sprite and Fanta all had sparkling performances – Photo: Shutterstock

Coca-Cola on Wednesday revised its full-year profit forecast after better-than-expected third-quarter earnings due primarily to the reopening of restaurants, sports facilities and theatres.

Coke’s adjusted Q3 earnings were $2.47bn (£1.8bn) or 65 cents per share, up from $1.73bn or 55 cents per share compared to Q3 2020. Analysts were expecting earnings of 59 cents per share.

In late Wednesday trading, Coca-Cola was down .31% to $392.19

Broad growth

Overall, revenue increased $10bn or 16% from $8.65bn, beating Wall Street’s expectation of $9.8bn. In a release, the Atlanta, Georgia-based company said growth was “broad-based … with particular strength in markets where coronavirus-related uncertainty is abating.”

On the better-than-expected numbers, Coke’s CEO James Quincey said, “Our strategic transformation is enabling us to effectively navigate a dynamic environment and emerge stronger from the pandemic. While the recovery continues to be asynchronous around the world, we are investing for growth to drive long-term value for the system.”

Sparkling soft drink sales jumped 6% and Trademark Coca-Cola grew 5% based on sales in Europe, the Middle East, Africa and Latin America. Sparkling flavours grew 7%, with Sprite and Fanta sales experiencing exceptional growth, the company reported.

Fourth quarter growth

In the fourth quarter, Coca-Cola said it expects revenue growth of between 13% and 14%, adjusting its range of 12% to 14% and per-share earnings growth of 15% to 17%, up from previous guidance of a range of 13% to 15%.


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Short position overnight fee 0.0032%
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Read more: McDonald's Q3 beats on strong worldwide appetite

The difference between stocks and CFDs:

The main difference between CFD trading and stock trading is that you don’t own the underlying stock when you trade on an individual stock CFD.

With CFDs, you never actually buy or sell the underlying asset that you’ve chosen to trade. You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional stock trading you enter a contract to exchange the legal ownership of the individual shares for money, and you own this equity.

CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional stock trading, you buy the shares for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks.

CFDs attract overnight costs to hold the trades, (unless you use 1-1 leverage) which makes them more suited to short-term trading opportunities. Stocks are more normally bought and held for longer. You might also pay a stockbroker commission or fees when buying and selling stocks.

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