Subscribe Login
A-Brands

Coca-Cola Sales And Profit, Beat On Strong Demand For Water And Soft Drinks

Coca-Cola Co beat estimates for quarterly sales and profit on Tuesday, as it sold more water and soft drinks, including its signature soda and Coke Zero, sending its shares up 4% before the bell.

After facing years of declines in soda sales, beverage makers are attracting consumers with flavoured waters, reformulated recipes, new fruity flavours and low-sugar drinks.

Increasing Demand

Volumes, a key indicator of demand, grew 2% in the first quarter ended 29 March, driven by strength in its Asian and European markets.

Organic sales, which exclude the impact of currency swings and acquisitions, rose 6%. Price hikes and stockpiling by its bottlers due to Brexit uncertainty also helped sales.

Revenue rose 5% to $8.02 billion, and the company earned 48 cents per share on an adjusted basis.

Analysts had forecast earnings of 46 cents per share on revenue of $7.88 billion, according to Refinitiv IBES.

Net income attributable to the company rose to $1.68 billion, or 39 cents per share, in the first quarter ended March 29 from $1.37 billion, or 32 cents per share, a year earlier.

News by Reuters, edited by Checkout. Click subscribe to sign up for the Checkout print edition.

Stay Connected With Our Weekly Newsletter

Processing your request...

Thanks! please check your email to confirm your subscription.

LIMITED TIME OFFER: 20% Off Our Premium Subscription
Enjoy full access to all website and app content, our weekly email news digest, and to Checkout Magazine 12 times a year (including our Top 100 Brands 2022 edition).
LIMITED TIME OFFER: 20% Off Our Premium Subscription
LIMITED TIME OFFER: 20% Off Our Premium Subscription
Enjoy full access to all website and app content, our weekly email news digest, and to Checkout Magazine 12 times a year (including our Top 100 Brands 2022 edition).
LIMITED TIME OFFER: 20% Off Our Premium Subscription