No-sugar drinks and innovations power Coke in 3Q

Business

In this Monday, Oct. 14, 2019 photo a truck with the Coca-Cola logo, behind left, maneuvers in a parking lot at a bottling plant in Needham, Mass. The Coca-Cola Co. reports financial results Friday, Oct. 18. (AP Photo/Steven Senne)

ATLANTA (AP) — Coca-Cola reported strong third quarter sales as it makes strides with new drinks like Coca-Cola Plus Coffee and no-sugar drinks.

Revenue jumped 8% to $9.51 billion, edging out Wall Street expectations for $9.48 billion, according to a survey by Zacks Investment Research.

The Atlanta company continues to book double-digit volume growth with drinks like Coca-Cola Zero Sugar.Coke also experienced double-digit growth in 7.5-oz. mini cans.

The company announced that Coca-Cola Energy and Coca-Cola Energy Cherry – a flavor exclusive to the U.S. – and their zero-calorie counterparts will be available in 12-oz. cans nationwide starting in January 2020. Coke said that the launch is part of its ongoing effort to keep pace with the changing and diversifying tastes of consumers.

Coke on Friday reported net income of $2.59 billion, or 60 cents per share. Earnings, adjusted for one-time gains and costs, were 56 cents per share, which is in line with projections from industry analysts.

Earlier this month rival PepsiCo Inc. reported third-quarter results that beat Wall Street expectations.

Shares of Coca-Cola Co. rose 1.5% before the opening bell.

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Portions of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on KO at https://www.zacks.com/ap/KO

Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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