Coca-Cola beats forecasts with Q3 growth | Progresiv
Coca-Cola Co has reported better-than-expected results for its fiscal third quarter, helped by its focus on ‘healthier-for-you’ products. 
For the quarter, revenue was down by a less-than-expected 15% to 9.1 billion dollars, although they were up 4% on an organic basis. Volumes for the period were flat, but the company gained market share in the ready-to-drink market. Net income jumped up 38% to 1.45 billion dollars, helped by a cost-cutting programme.
By region, revenues were up across all markets on an organic basis, with Latin America being the strongest performer (+6%) despite reporting volume declines (-3%). In North America, volume was flat, while it was up 1% in Europe, the Middle East and Africa, and grew by 3% in Asia Pacific.
The company said its Coca-Cola Zero Sugar variant saw volume growth double in the quarter, but volumes of its juice, tea, coffee, dairy & plant-based drinks were up 1%. Demand for sports drink however dipped by 1%.
CEO James Quincey noted: “I am encouraged with our progress and results in the quarter. Our performance reflects the strength of an organization that is focused on delivering against its financial commitments while also making substantial structural and cultural changes.” (www.kamcity.com)
