Coca-Cola’s fiscal third-quarter net sales rose 8% to $9.5 billion, topping expectations of $9.4 billion, CNBC reports citing the company’s Friday press release.
According to the document, organic revenue grew by 5%, helped by higher prices and customers buying more expensive drinks.
“We were expecting 4% organic growth and they delivered 5%,” said Laurent Grandet, managing director, beverage and foods lead analyst at Guggenheim Securities.
Much of the company’s growth came from its sales in USA. The sales of 200 millimeter canned Coke Zero Sugar grew by 15%.
The Guggenheim Securities analyst noted the Cola’s strategy offering smaller packaging, increasing the immediate consumption and sale of drinks in coolers yielded good results.
In a quarterly report, the company said that in 2020 it will introduce its first energy drink under the Coca-Cola brand in USA. Coke Energy is available in at least 25 countries and will be making its U.S. debut in January with additional zero-calorie options. Grandet said the new energy drink will compete with Red Bull and Monster Beverages.