Coca-Cola (NYSE:KO) on Friday reported quarterly revenue that topped analysts’ expectations as more customers are drawn in by healthier options, like Zero Sugar soda and smaller size cans.
Earnings per share registered at 56 cents, in line with what experts expected. Revenue proved to be $9.5 billion, compared to the $9.4 billion expected
Coke reported fiscal third-quarter net income of $2.6 billion, or 60 cents per share, up from $1.8 billion, or 44 cents per share, a year earlier.
Net sales rose 8% to $9.5 billion, topping expectations of $9.4 billion. Organic revenue grew by 5%, helped by higher prices and customers buying more expensive drinks.
As soda consumption declines in the U.S., Coke has been driving sales by focusing on drinks with less sugar and smaller packaging. Coke Zero Sugar once again saw double-digit volume growth, as did 7.5-ounce mini cans of soda.
Minute Maid and juice brand Simply also saw strong performance in the company’s home market. North American organic revenue grew by 3% during the quarter.
Coke once again updated its 2019 outlook for organic revenue, expecting at least 5% growth after telling investors last quarter to expect organic revenue growth of 5%.
The company also released a partial forecast for fiscal 2020. It is expecting a 1% to 2% currency headwind next year to impact its comparable revenue and a 2% to 3% currency headwind to hit its operating income.
Shares gained $1.01, or 1.9%, to $54.82
