Coca-Cola (NYSE: KO) reported second-quarter financial results before the regular trading hours on Tuesday. Despite a steep decline in revenues and income, the beverage giant managed to surpass analyst projections, sending the stock up 1.4% during pre-market hours.
The company added that unit case volume for July month-to-date was down mid-single digits globally, even though there has been an improvement in away-from-home channels.
Earlier, rival PepsiCo (NASDAQ: PEP) had reported better-than-expected second-quarter results riding on the strength of its snack platform.
Prior performance
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Also read: PepsiCo (PEP) vs. Coca-Cola (KO): Who is in better shape in a pandemic-hit world?