Coca-Cola shares rallied after its latest earnings report Friday, and the highly anticipated launch of a Red Bull, Monster Beverage energy drink competitor is coming.
"The top line was driving the strong results," said Laurent Grandet, managing director, beverage and foods lead analyst at Guggenheim Securities. "We were expecting 4% organic growth and they delivered 5%.""Investors are very happy with the top line, but it still remains to be seen how the earning power will continue to improve, especially next year," Grandet said.
"They were very good at offering smaller packaging sold at a premium and increasing the immediate consumption ... sold in coolers and at a higher price. It's how the company is attempting to grow in the future, offering more premium products, smaller packaging where consumers tend to consume drinks."
Coke Zero Sugar had another quarter of double-digit volume growth and 7.5-ounce mini cans of soda grew by 15%. Sealed cans of Coke Zero Sugar soft drink move along a conveyor at a Coca-Cola Co. factory in Dongen, Netherlands.The consumer staples sector is booming this year, with Coke up 16% and its competitor
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