Next week on the stock market

Back in the first quarter, Coca-Cola blew the lid off market expectations for revenue growth. Helped by higher prices to offset intense inflation in certain markets, underlying revenue grew organically by 9% to $11.2bn, ignoring exchange rates. Underlying operating profits were also up an impressive 13% to $3.6bn as margins improved.

When the group reports results next week, we expect to hear that this positive moment has spilled over into the second quarter. Thanks to the group’s diverse portfolio of drinks and continued marketing efforts, recently upgraded revenue and profit growth guidance looks achievable. Healthy cash flow generation also means we could see scope for further acquisitions or increased share buybacks in the near to medium term. Though remember no shareholder returns are guaranteed.

Markets didn’t react too well to easyJet’s last set of results, despite half-year revenues soaring 22% to £3.3bn. That was largely thanks to a weak outlook in the group’s commentary on bookings and revenue per seat in the short term. News that CEO Johan Lundgren is stepping down from the captain's seat also increased uncertainty. But with his successor already lined up in the form of the current CFO, we see limited transition risk.

Next week’s third-quarter results shouldn’t throw up too many surprises. Capacity is set to rise 8% over the second half, and we’re keen to hear how progress on that front is tracking. Travel remains important for customers, so an increased ability to meet this demand will be key to lifting the group's fortunes.

An independent Non-Executive director of Hargreaves Lansdown plc is also an Independent Non-Executive Director of easyJet plc.

AstraZeneca has so far left its full-year guidance unchanged, despite a better-than-expected start to the year. Next week, we’ll find out if that momentum carried over into the second quarter and if there’s been any change to the outlook for 2024. Currently, management anticipates low double-digit to low teens growth for both revenue and underlying earnings per share (EPS), when ignoring exchange rates.

Several approvals were granted for the company’s medicines over the period, and we’ll be keen to hear the commercial outlook for these treatments. It’s also been a busy quarter for external investments and acquisitions. Investors will want to know how this is contributing towards the target of launching 20 new medicines by the end of the decade.