Coca-Cola (KO) stock jumped 5% on Tuesday after the company beat Wall Street's earnings expectations and raised its guidance as consumers turned to lower-calorie trademark ****** e options, such as ****** e Zero and Diet ****** e.
The stock posted its best day since November 2020.
The soda giant was able to tap into health-conscious consumers and those leaning into America 250 and FIFA World Cup celebrations. Global unit case volume rose 5%, above the previous quarter's 3% gain and the 2.5% growth Wall Street expected, per Bloomberg consensus data. In North America, volume grew 3%.
Yet again, Coca-Cola Zero Sugar was the driving force, with volume up 16% in the quarter. Right behind it were Diet ****** e and Coca-Cola Light, up 7%.
"Diet ****** e was up 7% for the quarter, also, having its moment," CFO John Murphy told Yahoo Finance on Tuesday. "We have ****** e Zero in certain parts of Europe beginning to build scale. You're going to hear a lot more about that in the next 12 to 18 months."
#volume
The stock posted its best day since November 2020.
The soda giant was able to tap into health-conscious consumers and those leaning into America 250 and FIFA World Cup celebrations. Global unit case volume rose 5%, above the previous quarter's 3% gain and the 2.5% growth Wall Street expected, per Bloomberg consensus data. In North America, volume grew 3%.
Yet again, Coca-Cola Zero Sugar was the driving force, with volume up 16% in the quarter. Right behind it were Diet ****** e and Coca-Cola Light, up 7%.
"Diet ****** e was up 7% for the quarter, also, having its moment," CFO John Murphy told Yahoo Finance on Tuesday. "We have ****** e Zero in certain parts of Europe beginning to build scale. You're going to hear a lot more about that in the next 12 to 18 months."
#volume
3 months ago
