Wednesday October 17th, 2018 10:59PM

Coca-Cola profit rise 38 percent, on higher Sprite demand

By The Associated Press

ATLANTA (AP) — Coca-Cola's third-quarter profit rose 38 percent as it sold more Sprite and bottled tea and coffee drinks in the U.S.

The Atlanta company has been diversifying its drinks and lowering the sugar in its sodas to try to adapt to changing tastes. During the quarter, the company relaunched Coca-Cola Zero in the U.S. as Coca-Cola Zero Sugar and it bought Mexican sparkling water brand Topo Chico. However, Coca-Cola said Wednesday sales volume of sugar-free Diet Coke and its various types of waters declined in the company's biggest market, North America. Sales volume of Sprite, bottled tea and bottled coffee grew, while sparkling soft drinks was flat.

On Wednesday, Coca-Cola reported net income of $1.45 billion, or 33 cents per share, in the three months ending Sept. 29. That's up from the $1.05 billion, or 24 cents per share, in reported in the same quarter a year ago.

Adjusted earnings for the quarter came to 50 cents per share, a penny above what analysts were expecting, according to Zacks Investment Research.

Revenue fell 15 percent $9.08 billion in the period, beating the $8.84 billion analysts expected. The company said much of the revenue drop has to do with its plans to sell off its bottling business, which means less revenue for the company as it focuses on selling syrups and concentrates of its drinks to bottlers.

Shares of Coca-Cola Co. which are up 11 percent so far this year, slipped 28 cents to $45.90 before the stock market opened Wednesday.


Elements of this story were generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on KO at

  • Associated Categories: Associated Press (AP), AP Business, AP Business - Corporate News, AP Online - Georgia News, AP Online Headlines - Georgia News
© Copyright 2018
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Journalists expose the riches of Putin's distant relative
A group of investigative journalists behind the Panama Papers has published an investigation, detailing how a distant relative of Russian President Vladimir Putin has made a fortune
8:23AM ( 6 minutes ago )
Coca-Cola profit rise 38 percent, on higher Sprite demand
Coca-Cola profit rise 38 percent, on higher Sprite demand
8:16AM ( 14 minutes ago )
Boeing tops Street 3Q forecasts
Boeing beats 3Q earnings and revenue expectations
7:56AM ( 33 minutes ago )
Associated Press (AP)
Oil pipeline opponent uses 'necessity defense' _ What is it?
An American Indian activist accused of inciting a riot during protests against the Dakota Access oil pipeline in North Dakota says he'll seek to present a "necessity defense."
7:30AM ( 1 hour ago )
Visa profit jumps 11 pct in final quarter of 2017
Visa posts 4Q profit as volumes surge, pushing the company past Wall Street expectations
7:17AM ( 1 hour ago )
10 Things to Know for Today
Among 10 Things to Know: Traditional Republicans questioning future after Sen. Flake's retirement announcement; New Chinese leadership facing global challenges; After independence vote, Kurdish leaders feel under siege
6:49AM ( 1 hour ago )
AP Business
Senate GOP votes to repeal consumer rule
The Republican-led Senate has voted narrowly to repeal a banking rule that would let consumers band together to sue their bank or credit card company to resolve financial disputes
4:16AM ( 4 hours ago )
Asian shares inch higher, but Nikkei breaks winning streak
Asian markets moderately higher on corporate earnings, Japan's Nikkei 225 index breaks winning streak
3:36AM ( 4 hours ago )
Nissan executive bows to apologize for inspections scandal
Nissan executive bows to apologize for inspections problems, as scandals overshadow Tokyo Motor Show
3:04AM ( 5 hours ago )
AP Business - Corporate News
Boeing tops Street 3Q forecasts
Boeing beats 3Q earnings and revenue expectations
7:56AM ( 34 minutes ago )
The Latest: Trump blasts Republicans who criticized him
President Donald Trump is lashing out at two Republican senators who seared him with criticism
7:53AM ( 37 minutes ago )
EPA chemical review would exclude millions of tons of toxins
Firefighters and construction workers say the Trump administration is putting their health at risk by ignoring the hazards posed by millions of tons of asbestos, flame retardants and other toxins found in homes, businesses and industrial sites
7:53AM ( 37 minutes ago )
Bergdahl due back in court with Trump talk looming over case
Prosecutors plan to present evidence of service members wounded searching for Army Sgt. Bowe Bergdahl when he returns to court for sentencing
7:51AM ( 40 minutes ago )
US poker star Phil Ivey loses UK case, won't get millions
US poker star Phil Ivey loses British court case; won't get millions in winnings
7:47AM ( 43 minutes ago )