Coca Cola beats analysts’ estimates in the latest quarter, slurping rewards on Diet Coke and new launches.
The beverage company’s Q2 2018 earnings were 61 cents a share (excluding some items), edging past analysts’ average projection for 60 cents. Adjusted operating revenue came in at $8.9 billion, versus the estimate of $8.54 billion.
It’s revamp moves this year seems to have paid off. Earlier in the year, it introduced two new flavors of Diet Coke in slimmer, taller cans. The firm also spruced up its global presence by launching Coca-Cola Stevia No Sugar in New Zealand and dairy-free smoothie AdeZ in Europe in the latest quarter.
Revenues from its core beverage business surged 5% in the quarter, with Coke Zero, Diet Coke, and sparkling water emerging as the major contributors. Total volume of Coke products sold grew 2% in the quarter.