Categories AlphaGraphs, Earnings, LATEST, Other Industries

Coca-Cola tops Q2 estimates

Riding on the success of its diet beverages portfolio, Coca-Cola (KO) reported better-than-expected second-quarter results before the opening bell on Wednesday. The company reported net income of $2.32 billion, or $0.53 a share, higher than $1.37 billion, or $0.32 a share, it reported a year ago.

Excluding one-off items, the company reported earnings of $0.61 a share topping street consensus of $0.60 a share.

Net revenue declined 8% primarily due to the impact of refranchising its bottling operations. However, this decline was lower than the 12% slide expected by analysts. Revenue came in at $8.9 billion, whereas analysts had on an average projected $8.58 billion.

Coco-cola Q2 earnings results

Volumes improved 2% growth during the quarter led by trademark Coca-Cola, including continued double-digit growth for Coca-Cola Zero Sugar, and Fuze Tea. Also, the company’s no-sugar sparkling soft drink portfolio in North America accelerated from the first quarter, resulting in 7% retail value growth. This was again driven by Coca-Cola Zero Sugar and Diet Coke.

Related: PepsiCo’s organic revenue grows 2.6% in Q2, results beat estimates

“We’re encouraged with our performance year-to-date as we continue our evolution as a consumer-centric, total beverage company,” said James Quincey, President and CEO of The Coca-Cola Company. “We have the right strategies in place and remain focused on achieving our full-year guidance.”

In North America, the company expanded coverage of its digital MyCoke platform, which allows retail customers to schedule future orders online. The MyCoke platform has led to over a 5% increase in sales revenue when compared to the orders placed via traditional call centers, the company said.

This year, the company also launched its first alcoholic beverage in Japan, marking the company’s first foray into alcohol category. This way, the soda giant is emphasising its desire to appeal to a different fragment of the market.

Related Infographic

Coca-Cola First Quarter 2018 Earnings

 

Most Popular

Key highlights from Box (BOX) Q4 2021 earnings results

Box Inc. (NYSE: BOX) reported fourth quarter 2021 earnings results today. Revenues rose 8% year-over-year to $198.9 million. GAAP net loss was $4.9 million, or $0.03 per share, compared to

Infographic: Highlights of Hewlett Packard’s (HPE) Q1 2021 earnings report

Technology firm Hewlett Packard Enterprise Company (NYSE: HPE) reported higher earnings for the first quarter of 2021, despite a decrease in revenues. The numbers surpassed the consensus forecast. First-quarter earnings,

MercadoLibre (MELI): Here is a stock to have on your investment radar

MercadoLibre Inc. (NASDAQ: MELI) is one of the stocks that benefited from the COVID-19 pandemic. The Argentine ecommerce company has caught the attention of market experts as it garnered growth

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top