The Coca-Cola Company Raises Revenue With Less Sugary Beverages
Wednesday, July 24th, 2019 | 944 Views
Beverage giant, The Coca-Cola Company has reported soaring second quarter earnings and share prices on 23 July 2019, beating analysts’ expectations. The company saw a growth of six percent in overall revenues to US$10 billion. Furthermore, earnings per share (EPS) grew 12 percent to US$0.61 and comparable EPS grew four percent to US$0.63.
“Our strategy to transform as a total beverage company has allowed us to continue to win in a growing and vibrant industry,” said James Quincey, Chairman and CEO of The Coca-Cola Company.
The company states that the strong performance was driven by its soft drink sales—with its trademark Coca-Cola beverage rising four percent in volume and transaction growth. Its revamped diet soda, Coca-Cola Zero Sugar continues to hit double-digit volume growth globally for the seventh consecutive quarter. As US consumers are moving away from sugary drinks, the company is also shifting their portfolio and driving innovations such as its Coca-Cola Plus Coffee and Coca-Cola Energy drinks.
Furthermore, following the acquisition of Costa Coffee, the company has launched the Costa Coffee Ready-To-Drink (RTD) chilled product in the UK during the second quarter which delivers an authentic coffee taste with 30 percent less sugar than most RTD coffees in Costa’s market in the UK.
Coca-Cola’s global unit case volume grew three percent, with a seven percent increase in Asia due to broad-based growth across all key markets, led by India, Southeast Asia and China.