Coca-Cola’s second quarter earnings surpassed analyst’ estimates.
The beverage giant reported adjusted earnings of 63 cents a share, which exceeded the 61 cents a share that analysts polled by Refinitiv had expected. They were also higher compared to the year-ago quarter’s 54 cents a share,
Sales of $10 billion also beat estimates of $9.9 billion (based on FactSet poll).
The company mentioned a +4% volume and transaction growth in Coke’s namesake brand. Its Zero Sugar line once again experienced double-digit volume growth worldwide.
In recent years, Coke has expanded its footprints well beyond its iconic brown carbonated drinks. It bought British coffee chain Costa, which it plans to produce coffee-infused carbonated drinks with.
During the second quarter, Coke brought Coca-Cola Plus Coffee in more markets. The product has slightly less caffeine than a normal cup of coffee but more than a can of the soda.