The company’s earnings and revenue increased thanks to a partnership with Netflix and a variety of new products.
Shares of Coca-Cola rose 5% on Tuesday thanks to a positive second-quarter earnings report. The company’s earnings and revenue both beat investor expectations…
The company reported adjusted earnings of 63 cents per share, which is higher than the 61 cents per share investors expected. And the company’s revenue reached $10 billion, as opposed to the $9.99 billion expected by investors.
Coca-Cola made significant gains in 2019, and the stock is up 15% year to date. That’s largely thanks to the company’s ability to innovate and continue to adapt to consumer trends.
According to CEO James Quincy, “Our strategy to transform as a total beverage company has allowed us to continue to win in a growing and vibrant industry.” Here’s a closer look at what’s going on with Coca-Cola.
A New Partnership With Netflix
Coca-Cola recently partnered with Netflix to promote the third season of “Stranger Things.” The company released New Coke, a beverage it originally released in 1985 — the year “Stranger Things” takes place.
During the season, characters are seen drinking New Coke in numerous scenes. And Coca-Cola will have “limited edition” offerings of New Coke available to purchase online and in certain stores.
Coca-Cola’s New Products
More and more, consumers want caffeinated drinks that don’t have the added sugar found in traditional soda. So the company’s rolling out Coca-Cola Coffee as a way to capitalize on the ready-to-drink coffee market. Coca-Cola Coffee is a combination of Coke and coffee. It has more caffeine than a regular can of Coke.
Coca-Cola is also introducing Coca-Cola Energy, the company’s first energy drink. The drink is available in 14 different countries, though it’s unclear when it will be available in the U.S.
Slow International Growth in the Second Quarter
The company had strong growth in the U.S., but international growth fell mostly flat during the second quarter. Coca-Cola’s sales in the Asia Pacific, Europe, and others fell due to currency fluctuations. However, the company maintained its fiscal forecast for the remainder of 2019.
