7/23/2019, 12:57 PM (Source: TeleTrader)
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Coca-Cola posts revenue of $10B in Q2

American multinational corporation the Coca-Cola Company said on Tuesday that its revenue in the second quarter of 2019 grew by 6% and stood at $10 billion. In the same timeframe, its earnings per share (EPS) increased by 12%, up to $0.61. The company's operating income rose 8%, while the comparable currency neutral operating income (non-GAAP) grew by 14% year-over-year. With these results, the company’s performance year-to-date led to an update in full-year guidance.

Year-to-date cash from operations stood at $4.5 billion, soaring 68% largely due to strong underlying growth, working capital initiatives and the timing of tax payments. The strong performance marked in the second quarter of 2019 was attributed to sparkling soft drinks, most notably through the performance of its trademark Coca-Cola brand's growth of 4%. Energy drinks and coffee beverages also marked notable gains, with several new products hitting the shelves in the largest markets.

"Our strategy to transform as a total beverage company has allowed us to continue to win in a growing and vibrant industry. Our progress is positioning the company to create more value for all of our stakeholders, including our shareowners," James Quincey, chairman and CEO of The Coca-Cola Company, said in a statement.

Breaking the News / MA