Coca-Cola (NYSE: KO) on Wednesday reported second-quarter earnings and revenue that beat analysts' expectations, bolstered by its efforts to bring its diet drinks around the world.
During the quarter, the soft-drink behemoth launched its dairy-free smoothie brand AdeZ in Europe and debuted Coca-Cola Stevia No Sugar in New Zealand. It also brought its revamped Diet Coke campaign to Great Britain, following its previous launch in the U.S.
Adjusted earnings per share came in at 61 cents vs. 60 cents forecast by analysts, while revenues were $8.90 billion vs. $8.54 billion forecast
The company reported net income of $2.32 billion, or 54 cents a share, up from earnings of $1.37 billion, or 32 cents a share during the same quarter a year ago.
After adjusting for continuing operations and other items, Coke said it earned 61 cents a share, which was a penny better than analysts were expecting.
For the year, Coke says it expects at least 4% growth in organic revenue and at least 9% growth in its adjusted net income.
Coke is also driving acceleration in the sparkling soft drinks category through investment and innovation, with 5% retail value growth in its sparkling portfolio during the quarter.
CEO James Quincey said "We're encouraged with our performance year-to-date as we continue our evolution as a consumer-centric, total beverage company. We have the right strategies in place and remain focused on achieving our full year guidance."
Shares marched ahead 67 cents, or 1.7%, to $46.02
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