Coke Exceeds Q3 Profit Expectations

Coca-Cola Co. has exceeded its projected profits for the third quarter of 2018. Coke’s earnings for the third quarter currently stand at approximately $1.88 billion, with stock shares at 44 cents per. With adjustments and costs factored in, that’s 58 cents per share, which is 3 cents higher than what Wall Street was predicting. According to the company CEO James Quincey, this surge in profit is not due to Coke’s main line of soft drinks, but rather to increased sales of sugar-free drinks and enhanced waters. Smartwater, Vitaminwater and Topo Chico helped to turn around a large slump the company was experiencing in its winter sales.

Sales of water and sports drinks jumped up 5% from July 2018 to September 2018, with a notable rise in sales in China and Mexico. Coke’s sodas have not been left behind entirely; according to Quincey, sales of low and no-calorie versions of Sprite and Fanta have been up by 2%, and Coke Zero, the sugar-free diet variation of Coca-Cola, has had its best quarter in the past 10 years.

Coke is planning on emphasizing its Smartwater lines in the near future, with plans to introduce it to 20 more markets by the end of the year, giving them a total of 32 countries in which the product is sold.

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5 years ago
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