Coca-Cola Co., the US-based multinational beverage company, headquartered in Atlanta, Georgia, had revealed its quarterly earnings’ report for Q3, 2019, which had beaten Wall St. estimates by a fair margin, as a buoyant sales figure of its Zero-sugar sodas alongside smaller can colas stoked profit.
Aside from that, amid a growing optimism over its Zero-sugar sodas among health-conscious customers, the Georgia-based Coca-Cola company, long hailed for its flagship Coca-Cola, invented back in 1886 by a pharmacist John Stith Pemberton who sold the drink’s right shortly before his death, had also heightened its full-year profit forecast.
According to Coca-Cola’s quarterly earnings’ report for the third quarter of the year, the beverage-maker’s net operating profit rose by 8.30 per cent to $9.51 billion, beating an analysts’ estimate of $9.43 billion by a fair margin, IBES data from Refinitiv revealed.
In point of fact, two of the largest beverage makers across the globe by revenue, Coca-Cola and PepsiCo Inc., both were facing off steep losses over the recent years, however, launch of its low-sugar drinks alongside introduction of other beverages such as coffee, tea and bottled water in a bid to diversify the businesses had conceived fruits and turned both of the beverage makers into profitability.
Meanwhile expressing optimism over Coca-Cola’s forecast to raise its full-year revenue growth more than 5 per cent, an analyst of Wells Fargo, Bonnie Herzog said, “We were very impressed with Coca-Cola’s better-than-expected topline. ”