Healthier drinks help Coca-Cola increase its revenue expectations. (Photo by THE ASSOCIATED PRESS)

Coke’s broadening palate drives sales

ATLANTA — Coca-Cola upped its revenue expectations for the year as new lines of healthier drinks and coffees win over fans.

The world’s largest drink company posted second quarter earnings of $2.61 billion, or 61 cents. Earnings, adjusted for one-time gains and costs, came to 63 cents per share, which is a penny better than expected, according to analysts surveyed by Zacks Investment Research.

Revenue was $10 billion, also beating expectations.

Shares of Coca-Cola Co. rose 2% before the opening bell Tuesday after the Atlanta company projected organic revenue growth of 5% for the year. That’s equal to its growth in 2018, and better than the 4% organic revenue growth the company initially forecast in January.

Coke said it still expects full year earnings growth between 1% and negative 1%.

Coke said its first energy drink, Coca-Cola Energy, launched in Europe during the quarter and saw some sales success. The company plans to expand sales of the new product to 20 markets by the end of this year.

Coke’s acquisition of British coffee shop chain Costa Coffee — which was completed earlier this year — is also paying off. New drinks like Coca-Cola Plus Coffee and chilled, low-sugar Costa Coffee beverages saw growth in the April-June period.

Sales of Coke’s namesake soft drinks rose 3% in the quarter, thanks to double-digit growth of Coca-Cola Zero Sugar and new products like Coca-Cola Orange Vanilla.

Portions of this story were generated by Automated Insights using data from Zacks Investment Research.

By The Associated Press

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Alberta-registered truck elicits a note of kindness in British Columbia

There have been multiple reports online of vandalism to vehicles with Alberta licence plates

Every Albertan eligible for COVID-19 testing

22 new cases confirmed on Friday

Red Deer’s small fitness facilities limbering up for reopening

Al Parada has done everything in his power to stay busy. But… Continue reading

COVID-19 leaving its mark on office designs

Office designs encouraging more physical distancing could become the norm

WATCH: Central Albertans applaud efforts of Golden Circle staff, volunteers

Central Albertans thanked the Golden Circle Senior Resource Centre’s staff and volunteers… Continue reading

Statistics Canada says first-quarter GDP worst showing since 2009

Statistics Canada says first-quarter GDP worst showing since 2009

CWB Financial reports Q2 profit down as provisions for credit losses soar

CWB Financial reports Q2 profit down as provisions for credit losses soar

Laurentian Bank Financial Group reports Q2 profit down, cuts quarterly dividend

Laurentian Bank Financial Group reports Q2 profit down, cuts quarterly dividend

POLL: Have you gone out to eat since restaurants were allowed to reopen?

Have you gone out to eat since restaurants were allowed to reopen?… Continue reading

COVID cancelled their wedding plans, so they married on a BC mountaintop

Ceremony was live streamed to friends and family around the world

Red Deer RCMP looking for missing woman

Red Deer RCMP is asking the public to help locate a woman… Continue reading

Crude has best month on record in May as prices surge 88 per cent

Crude has best month on record in May as prices surge 88 per cent

‘It is dire:’ Study finds B.C. logging continues on critical caribou habitat

‘It is dire:’ Study finds B.C. logging continues on critical caribou habitat

Most Read