(Reuters) -Coca-Cola beat Wall Street estimates for second-quarter revenue and profit on Tuesday, as the beverages giant benefited from resilient demand for zero-sugar drinks and higher prices for its sodas.
The company said it plans to launch an offering made with U.S. cane sugar under its trademark Coca-Cola product range, days after an announcement from President Donald Trump.
Food companies have rolled out plans to make changes in ingredients and include healthier substitutes amid Health Secretary Robert F. Kennedy Jr.’s Make America Healthy Again (MAHA) campaign.
Prices rose 6% overall in the second quarter, following a 5% rise in the prior quarter, led by increases in some inflationary markets.
Meanwhile, total case volumes fell about 1%, compared with a 2% rise in the preceding three-month period.
Coca-Cola Zero Sugar jumped 14%, driven by growth across all geographies.
The company’s comparable revenue rose 2.5% to $12.62 billion. Analysts on average had expected $12.54 billion, according to data compiled by LSEG.
Excluding items, the company earned 87 cents per share, beating estimates of 83 cents.
The company’s shares were last down marginally in choppy premarket trading. They have risen 12.5% so far this year.
(Reporting by Juveria Tabassum in Bengaluru; Editing by Sriraj Kalluvila)
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