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The world's largest producer of soft drinks, the American Coca-Cola Co., increased its net profit in the first quarter of 2023 by 12%, and revenue by 5%. The latest data exceeded market expectations and analysts' forecasts. According to a Coca-Cola press release, the company's net profit in January-March amounted to $3.11 billion, or $0.72 per share, compared with $2.78 billion, or $0.64 per share, for the first quarter of the previous year. Net revenue was $11 billion, while market forecasts assumed a figure of $10.8 billion. A year earlier, this figure was at the level of $10.5 billion. Coca-Cola's revenue in North America increased by 9%, in the EMEA region (Europe, Middle East, Africa) – by 10%, in Latin America – by 14%, in the Asia-Pacific region, on the contrary, decreased by 3%. The company also confirmed its forecast for 2023, according to which its organic revenue growth will be 7-8%, and adjusted profit will increase by 4-5%. Coca-Cola CEO James Quincy noted that he expects to receive free cash flow of about $9.5 billion, based on inflows of $11.4 billion and capital expenditures of about $1.9 billion.
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