Coca Cola revenues nosedive in the 1st quarter of 2023-24 FY with global factors like exchange rate fluctuations

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The company is set to project sluggish growth and a flat net income in the first quarter of FY 2023-24

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Inflation happens to be one of the major factors for the decline in the growth as consumers curtail purchases

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The hike in the exchange rates of the currency and business suspension in Russia is said to contribute to the loss

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Coca-Cola is expected to post first-quarter earnings of $2.8 billion, or 64 cents a share, same as last year

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Revenue growth is expected to slow worldwide, but nowhere more than in Europe where sales probably fell 3%

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The value of the company’s products sold, represented by its price/mix ratio, is projected to come in at 9.9%

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Coca-Cola shares are up 1% so far this year, underperforming both the S&P 500 (up about 9%) as per reports

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