Coke sales surge in Q2 as re-openings gain momentum

Coca-Cola's sales are rebounding faster than expected as the impact of the pandemic abates

Coca-Cola Co.'s sales rebounded faster than expected as the impact of the pandemic abated. The Atlanta-based soft drink giant said its revenue jumped 42% to $10.1 billion in the April-June period. That was well ahead of the $9.3 billion in sales that Wall Street had forecast, according to analysts polled by FactSet. It was even slightly better than the same period in 2019. It was a very different story than the second quarter of 2020, when Coke's sales sank 28%. Coke Chairman and CEO James Quincey said the recovery remains uneven, but as vaccination rates increase, consumers are returning to their pre-pandemic routines. “We’ve always believed that humans are social creatures and that once the restrictions come down and the panorama of the virus allows people the confidence to go out, they will go back out,” Quincey said Wednesday during a conference call with investors. “You can see very much beginning to happen in the second quarter.”