The Coca-Cola Company (NYSE:KO) on Friday reported fiscal third-quarter revenue that topped analysts’ expectations as more customers are being drawn in by healthier options, like Zero Sugar soda and smaller size cans.
Shares of the company rose 2% to $54.90 in premarket trading.
“Our performance gives us confidence that our strategies are taking hold with our consumers, customers and system,” CEO James Quincey said in a statement.
Coke reported net income of $2.6 billion, or 60 cents per share, up from $1.8 billion, or 44 cents per share, a year earlier.
Excluding impairment charges, gains from the sale of a New York building, and other items, the beverage giant earned 56 cents per share, in line with the 56 cents per share expected by analysts.
Net sales rose 8% to $9.5 billion, topping expectations of $9.4 billion. Organic revenue grew by 5%, helped by higher prices and customers buying more expensive drinks.
The company said it now expects full-year earnings-per-share to range from a decline of 1% to growth of 1%, unchanged from previous guidance.
Contact the author: patrick@proactiveinvestors.com
Follow him on Twitter @PatrickMGraham