Coca-Cola Posts Sparkling Quarter, Warns Of Rocky Recovery On Rising Covid Cases

Coca-Cola Co thumped estimates for quarterly results on Monday as sales in Asia picked up following the reopening of stores and restaurants.

Coca-Cola Co thumped estimates for quarterly results on Monday as sales in Asia picked up following the reopening of stores and restaurants, but the beverage maker warned of a rocky road ahead due to growing COVID-19 cases in some markets. The beverage maker said volumes, a key demand indicator, returned to 2019 levels in March as accelerated vaccinations paved the way for the reopening of economies. Shares of the Atlanta-based company rose about 1% in morning trading. "Whilst we've got back above the line of flotation in March, there's no guarantee there won't be some extra degree of lockdowns in May or September or December that then puts pressure back on the business," Chief Executive Officer James Quincey told analysts.