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Coca-Cola sales sink 20% as consumers drink more vitamin water, coffee

Global volume growth remained unchanged even as North America volumes increased 1 percent.


Coca-Cola Co reported better-than-expected quarterly profit and sales on Friday as it sold more teas, coffees and vitamin water, sending its shares up 2.4 percent. Organic sales, which exclude the impact of the company's ongoing efforts to refranchise its bottling operations, rose 6 percent, helped by demand for products such as Georgia Coffee and Glaceau vitamin water. Net operating revenue fell to $7.51 billion from $9.41 billion a year earlier, but beat the average analyst estimate of $7.36 billion, according to Thomson Reuters I/B/E/S. Global volume growth remained ...

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First Published: Fri, February 16 2018. 21:17 IST