FIFA World Cup boosts Coca-Cola earnings
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The news: Coca-Cola grew second-quarter revenue by 7% to USD13.4 billion, as the FIFA World Cup boosted sales of Coke and Powerade.
The numbers: The beverage company reported earnings per share of USD0.97, up 16% and ahead of the USD0.93 forecast compiled by LSEG. Net income rose 16% to USD4.4 billion.
The context: Coca-Cola said the World Cup allowed it to run a coordinated marketing campaign across more than 180 markets.
“By combining global scale with local execution, the company’s FIFA World Cup 2026 campaign contributed to a portion of both 5% volume growth for Trademark Coca-Cola and 8% volume growth for Powerade during the quarter,” it said.
India, China, the US and Brazil recorded the strongest unit volume growth.
Strong sales prompted Coca-Cola to upgrade its full-year earnings growth forecast to between 9% and 10%, from between 8% and 9%. Its shares rose 3.8% in pre-market trading.
Earlier this month, rival PepsiCo reported weaker-than-expected quarterly earnings, attributing the result to US consumers tightening their budgets amid high petrol prices.
