Coca-Cola reported better-than-expected earnings in the first quarter and said the impact of tariffs on its business are likely to be “manageable.”
Coke and other beverage makers are facing a 25% tariff on the aluminum they use for cans, among other items. Last week, rival PepsiCo lowered its full-year earnings expectations due to the impact of tariffs.
Revenue fell 2% to $11.1 billion in the January-March period, the company said Tuesday. That was in line with Wall Street’s expectations, according to analysts polled by FactSet.
Net income rose 5% to $3.3 billion for the quarter. Adjusted for one-time items, the Atlanta company earned 73 cents per share. That beat expectations of 72 cents.
Shares of Coca-Cola rose about 1% before the opening bell Tuesday.
