COCA-COLA Co's quarterly profit and revenue topped analysts' estimates, helped by a 3 percent rise in North American sales as it gains market share over arch rival PepsiCo Inc.
The company sold more Sprite, teas and coffees during the quarter, offsetting a dip in Diet Coke sales.
In contrast, PepsiCo reported a drop in quarterly beverage sales in North America for the first time in two years, hit by weak demand for Gatorade and marketing missteps.
"Coca-Cola is clearly gaining share as evidenced by the very wide performance gap between itself and PepsiCo," RBC Capital Markets analyst Nik Modi wrote in a note.
Analysts have attributed Coca-Cola's market share gains to its franchising initiatives and a more aggressive push to sell juices, teas and vitamin water.
Its recent acquisitions in the non-soda category include salty mineral water brand Topo Chico, Honest Tea and Unilever's AdeS soy-based beverages.
Beverage makers have been hit by consumers opting for healthier drinks, particularly in the United States, and growing pressure from health experts who have blamed sugary drinks for a rise in obesity.
Refranchising bottling operations has helped Coca-Cola eliminate costs of operating a low-margin business and gives it a more predictable revenue stream.
Cost of goods sold fell 18 percent in the quarter, and general and selling expenses dropped 20 percent.
Net income attributable to Coca-Cola's shareholders rose to $1.45 billion, or 33 cents per share, in the third quarter ended Sept. 29, from $1.05 billion, or 24 cents per share, a year earlier.
Excluding items, the company earned a profit of 50 cents per share, beating the average analyst estimate of 49 cents, according to Thomson Reuters I/B/E/S.
Revenue fell 14.6 percent to $9.08 billion as the company refranchised some bottling operations, but beat the average estimate of $8.72 billion.
Coca-Cola's shares, which have risen 11.3 percent this year, were little changed in premarket trading on Wednesday.
Reuters
Wed Oct 25 2017
Analysts have attributed Coca-Cola's market share gains to its franchising initiatives and a more aggressive push to sell juices, teas and vitamin water. - FILEpic
Selangor sasar noktah miskin tegar Julai ini - MB
Majlis Tindakan Pembangunan Negeri Selangor merekodkan sejumlah 861 keluarga masih berada dalam kategori miskin tegar.
Mesir-Perancis bincang gencatan senjata, bantuan kemanusiaan di Gaza
Mereka menekankan keperluan segera untuk gencatan senjata dan membincangkan beberapa inisiatif yang bertujuan menyelesaikan krisis tersebut.
Kitaro di Festival Muzik Hutan Hujan Dunia 2024
Kitaro bakal membuat persembahan pada Festival Muzik Hutan Hujan Dunia (RWMF) 2024 pada 28-30 Jun ini.
PH kerja keras pertahan DUN KKB, tidak mahu berasa selesa
Walaupun berjaya menguasai kerusi Dewan Undangan Negeri (DUN) Kuala Kubu Baharu (KKB) selama tiga penggal sejak 2013, namun ia bukanlah tiket untuk Pakatan Harapan (PH) berasa selesa.
MDKpr nafi curi haiwan ternakan dalam kandang
Ahmad Suqairy berkata haiwan itu ditangkap dalam operasi oleh Bahagian Penguatkuasaan MDKpr pada 23 Apr lalu di kawasan Kolej TAR.
488 acara dipertandingkan di SUKMA Sarawak 2024 - MSN
Jawatankuasa Tertinggi Sukan Malaysia (SUKMA) secara rasmi bersetuju menawarkan sejumlah 488 acara dipertandingkan pada temasya SUKMA Sarawak 2024.
Petronas Dagangan catat jualan lebih 16 bilion liter bahan api pada 2023
PDB merekodkan peningkatan perolehan sebanyak dua peratus didorong jumlah jualan lebih tinggi dan keuntungan selepas cukai yang meningkat.
Aset rizab rasmi Malaysia berjumlah AS$113.76 bilion pada akhir Mac - BNM
Aset rizab rasmi Malaysia berjumlah AS$113.76 bilion pada akhir Mac 2024 manakala aset mata wang asing lain adalah US$1.61 bilion, kata Bank Negara Malaysia (BNM).
Kemunculan Momota di gelanggang pastinya dirindui - Pemain badminton dunia
Momota bakal bersara daripada arena sukan badminton antarabangsa selepas Piala Thomas 2024 yang sedang berlangsung di Chengdu.
Akta Sewaan Kediaman perlu digubal segera bagi pelihara hak pemilik, penyewa
Pertubuhan Sewaan Kediaman Kebangsaan hari ini meminta kerajaan menggubal Akta Sewaan Kediaman dengan segera bagi memastikan hak pemilik kediaman dan penyewa sentiasa terpelihara di negara ini.
Coca Cola tinjau prospek penghasilan minuman berperisa ganja
Kenyataan itu hadir sebagai maklum balas Coca Cola terhadap laporan media berkaitan rundingan yang dijalankan dengan syarikat Aurora Cannabis Inc. dari Kanada.
Trofi Piala Dunia 2018 dipamer di Moscow
Kurang beberapa hari sebelum sepak mula Piala Dunia 2018 bermula, trofi bagi anugerah sukan paling berprestij itu didedahkan kepada umum dalam satu acara di Moscow Red Square pada Ahad.
Dua generasi gilakan Coca-Cola
Membelek botol model keluaran pertama Coca-Cola pada 1899 yang diperbuat dari kaca, anak jati Pumpong, Jalan Anak Bukit, Alor Setar ini mengakui koleksi yang dimilikinya seumpama mesin merentas masa.