Coca-Cola reports rising revenue in Q3, reaffirms confidence in Chinese market | investinchina.chinadaily.com.cn

Coca-Cola reports rising revenue in Q3, reaffirms confidence in Chinese market

Xinhua Updated: Oct 25, 2024
A booth seen promoting Coca-Cola products in Qingdao, Shandong province. [Photo provided to CHINA DAILY]

The Coca-Cola Company reported its third-quarter earnings results Wednesday, with the revenue reaching $11.85 billion, exceeding the estimate of $11.61 billion.

The company's operating income reached $2.51 billion, and its net income reached $2.85 billion. Comparable earnings per share grew 5 percent to $0.77, beating estimates.

"Our business continues to demonstrate resilience in the face of a dynamic external environment," said James Quincey, chairman and CEO of The Coca-Cola Company.

In terms of categories, sales of sparkling soft drinks and trademark Coca-Cola were steady. Coca-Cola Zero Sugar grew 11 percent, and tea grew 7 percent, driven by growth in the Asia Pacific, Latin America, Europe, the Middle East and Africa.

Quincey mentioned the growth potential of the Chinese market, reaffirming the company's long-term confidence in its prospects. He also stated that the company will continue to invest to seize future growth opportunities.

In recent years, Coca-Cola China has actively expanded its presence across various regional markets in the Chinese mainland, with a particular focus on deepening its development in the South China market.

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Coca-Cola reports rising revenue in Q3, reaffirms confidence in Chinese market

Xinhua Updated: Oct 25, 2024
A booth seen promoting Coca-Cola products in Qingdao, Shandong province. [Photo provided to CHINA DAILY]

The Coca-Cola Company reported its third-quarter earnings results Wednesday, with the revenue reaching $11.85 billion, exceeding the estimate of $11.61 billion.

The company's operating income reached $2.51 billion, and its net income reached $2.85 billion. Comparable earnings per share grew 5 percent to $0.77, beating estimates.

"Our business continues to demonstrate resilience in the face of a dynamic external environment," said James Quincey, chairman and CEO of The Coca-Cola Company.

In terms of categories, sales of sparkling soft drinks and trademark Coca-Cola were steady. Coca-Cola Zero Sugar grew 11 percent, and tea grew 7 percent, driven by growth in the Asia Pacific, Latin America, Europe, the Middle East and Africa.

Quincey mentioned the growth potential of the Chinese market, reaffirming the company's long-term confidence in its prospects. He also stated that the company will continue to invest to seize future growth opportunities.

In recent years, Coca-Cola China has actively expanded its presence across various regional markets in the Chinese mainland, with a particular focus on deepening its development in the South China market.

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