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Coca-Cola earnings: Price hikes lead to a big quarter

Associated Press

Coca-Cola sales surge offsetting rising costs, Russia exit

Sales at Coca-Cola surged 16% during the first quarter as crowds returned to movie theaters, music venues and sport stadiums, offsetting rising input costs for the company and the suspension of operations in Russia. Coca-Cola was among the companies to pull the plug on Russian operations after the country invaded neighboring Ukraine. The Atlanta company posted net income of $2.78 billion, or 64 cents per share, topping Wall Street’s expectations for per-share earnings by 6 cents, according to a survey by Zacks Investment Research.

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