Diageo shares rise after surprise sales growth beat
Diageo reported surprise 0.3% sales growth as Guinness demand offset a 9.4% drop in North America. CEO Dave Lewis will present a new strategy in August.
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DIAGEO PLC posted 0.3% organic net sales growth in the third quarter, beating analyst forecasts for a 2.3% decline. The surprise result drove shares in the world’s largest spirits maker up more than 6% during the morning session. Investors are weighing the sales beat against a 9.4% revenue drop in North America, the company's most critical profit engine.
