Coca-Cola Co beat estimates for quarterly sales and profit on Tuesday, as it sold more water and soft drinks, including its signature soda and Coke Zero, sending its shares up 4 percent before the bell, reports Trend referring to Reuters
After facing years of declines in soda sales, beverage makers are attracting consumers with flavored waters, reformulated recipes, new fruity flavors and low-sugar drinks.
Volumes, a key indicator of demand, grew 2 percent in the first quarter ended March 29, driven by strength in its Asian and European markets.
Organic sales, which exclude the impact of currency swings and acquisitions, rose 6 percent. Price hikes and stockpiling by its bottlers due to Brexit uncertainty also helped sales.
Revenue rose 5 percent to $8.02 billion, and the company earned 48 cents per share on an adjusted basis.
Analysts had forecast earnings of 46 cents per share on revenue of $7.88 billion, according to Refinitiv IBES.
Net income attributable to the company rose to $1.68 billion, or 39 cents per share, in the first quarter ended March 29 from $1.37 billion, or 32 cents per share, a year earlier.