Ramin Talaie | Getty Images
Coca-Cola on Tuesday reported quarterly earnings and revenue that beat analysts' expectations, driven by sales of its namesake soda brand.
Shares of the company jumped 1.5% in premarket trading.
James Quincey said in a statement.
Here's what the company said with regard to what Wall Street was expecting, based on a survey of analysts by Refinitiv:
- Earnings per share: 63 cents, adjusted, vs. 61
- Revenue: $ 10.00 billion vs. $ 9.99 billion expected
Excluding items, Coke earned 63, – $ 2.61 billion, or 61 cents per share, up from $ 2.32 billion, or 54 cents per share, a year earlier
Net sales rose 6% to $ 10.00 billion, narrowly beating expectations of $ 9.99 billion. Coke raises its full-year outlook for revenue and now 5% organic revenue growth.
It reiterated its fiscal 2019 earnings forecast, saying that earnings per share could fall or fall by 1%.
Coke's namesake brand reports the company's performance in the quarter to 4% volume and transaction growth. Its zero sugar line once again saw double-digit volume growth across the globe.
Coca-Cola Plus Coca-Cola Plus Coca-Cola Plus coca-cola coffee in the second quarter of the year.
So Coke's Coke out of the Coca-Cola brand during the quarter. Coca-Cola Energy uses caffeine from naturally derived sources and is available in 14 countries, including Japan and South Africa. By the end of 2019, the beverage is coming to Mexico, Brazil and four more countries. Coke has not shared any plans to sell Coca-Cola Energy in the U.S. since an arbitrator ruled in July.
The company has launched its first product line with Costa Coffee since it was acquired by U.K. coffee brand for $ 5.1 billion. The canned coffee drinks will be launched in Poland and China by the end of the year.
This story is developing. Please check back for updates.