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Coca-Cola sales rise as vaccinations roll out, venues open

Last Updated Apr 19, 2021 at 4:33 am PDT

FILE - In this Monday, April 5, 2021 file photo, cases of Coca-Cola are displayed in a supermarket, in New York. Coca-Cola Co. says its sales are steadily improving as vaccination rates increase and venues like stadiums, restaurants and theaters reopen around the world. The company said its sales rose 5% in the January-March period this year, helped by strong growth in China and India. (AP Photo/Mark Lennihan, File)

Sales are steadily improving at Coca-Cola Co. as vaccinations allow for the opening of stadiums, restaurants and theatres in many regions globally.

Sales rose 5% in the January-March period this year, the Atlanta company said Monday, helped by strong growth in China and India. But the recovery is uneven. Case volume declined in North America and Europe, where many dining rooms and other venues remain closed.

Net income dropped 19% to $2.2 billion in the first quarter. Excluding one-time items, the company earned 55 cents per share. That exceeded Wall Street’s forecast of 50 cents, according to analysts polled by FactSet.

Coke’s revenue rose 5% to $9.0 billion, ahead of the $8.6 billion analysts had forecast.

Dee-Ann Durbin, The Associated Press