Coca-Cola’s bet on sugar-free and sparkling drinks to meet its customers’ shifting tastes is paying off.
The beverage giant, which has introduced drinks like Coca-Cola Zero Sugar and smaller-sized sodas, said its revenues soared 16% in the final three months of 2019 and 9% for the full year.
“We made good progress in 2019 by delivering on our financial commitments and growing in a more sustainable way,” James Quincey, the company’s CEO said in a statement.
Americans, along with global consumers, are increasingly seeking out healthier options, bypassing traditional sodas for drinks that are sugar free or lower in calories.
Sales of Coca-Cola Zero Sugar grew by double digits last year, and Coca-Cola is participating with its peers in an initiative to help customers cut their calorie intake. That includes promoting Coca-Cola products that are no- and low-calorie as well as miniature-sized sodas that come in 7.5-oz cans.
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Investors seemed pleased. Shares in the company rose 2.68% to $58.54 in morning trading.
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