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Coca-Cola reports higher profits


Coca-Cola reports higher profits

Coca-Cola reported higher third-quarter profits Friday (Oct 18), citing solid sales of soda and innovative products like smaller drink cans that offset the hit from a strong dollar.

The beverage giant lifted full year profit and sales targets, and Chief Executive James Quincey said strategies “are taking hold with our consumers, customers and system.”

Profits rose 38 percent to $2.6 billion, off of an 8.3 percent increase in revenues to $9.5 billion.

The company scored higher sales of its flagship Coca-Cola and notched another quarter of double-digit growth in Coca-Cola Zero Sugar diet soda.

- Source: News websites

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