Coca-Cola tops estimates on steady soda demand, plans cane sugar-based products
The company said it plans to launch an offering made with U.S. cane sugar under its trademark Coca-Cola product range, days after an announcement from President Donald Trump.
Food companies have rolled out plans to make changes in ingredients and include healthier substitutes amid Health Secretary Robert F. Kennedy Jr.'s Make America Healthy Again (MAHA) campaign.
Prices rose 6 per cent overall in the second quarter, following a 5 per cent rise in the prior quarter, led by increases in some inflationary markets.
Meanwhile, total case volumes fell about 1 per cent, compared with a 2 per cent rise in the preceding three-month period.
Coca-Cola Zero Sugar jumped 14 per cent, driven by growth across all geographies.
The company's comparable revenue rose 2.5 per cent to $12.62 billion. Analysts on average had expected $12.54 billion, according to data compiled by LSEG.
Excluding items, the company earned 87 cents per share, beating estimates of 83 cents.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNA
an hour ago
- CNA
Intel to separate networking unit
Intel said on Friday it planned to establish its networking and communications business as a stand-alone company and has begun the process of identifying investors, as new CEO Lip-Bu Tan looks to streamline the struggling chipmaker.
CNA
an hour ago
- CNA
Spear AI raises first round of funding to apply AI to submarine data
SAN FRANCISCO :A startup founded by U.S. Navy veterans aiming to help the U.S. military use artificial intelligence to decipher data gathered by submarines has raised its first round of outside capital. Washington-based Spear AI specializes in working with what is known as passive acoustic data, which is gathered by listening devices underwater. Its long-term aim is to use AI to help submarine operators understand whether an object heard could be a rain squall, a whale, or a vessel that could be a threat, and to detect where it is and how fast it is moving. The challenge is that most existing AI tools are trained on data such as words or images that have been painstakingly labeled and organized over years or decades by companies such as Scale AI, which recently signed a $14.8-billion deal with Meta Platforms. Data from acoustic sensors is different. Spear AI co-founders Michael Hunter, a former U.S. Navy SEAL analyst, and John McGunnigle, a former nuclear submarine commander for the U.S. Navy, are building a hardware and software platform that aims to prepare that data for AI algorithms. The company sells sensors that can be attached to buoys or vessels and a software tool to help label and sort the data gathered by the sensors to make it ready to be put into AI systems. The U.S. Navy this month awarded Spear AI a $6-million contract for its data-labeling tool. Spear AI, founded in 2021, has been self-funded and has about 40 employees. Hunter, the CEO, said it raised $2.3 million from AI-focused venture firm Cortical Ventures and private equity firm Scare the Bear. The funding will be used to double the company's headcount to support its government contracts and commercial business prospects, such as monitoring underwater pipelines and cables. Hunter said Spear AI also aims to sell consulting services, a model similar to defense tech firm Palantir. "We wanted to build the product and actually get it out the door before the contract came in to get it," Hunter told Reuters. "The only way you can do that is with private capital."
CNA
2 hours ago
- CNA
US closes probe into Waymo self-driving collisions, unexpected behavior
WASHINGTON :The National Highway Traffic Safety Administration said on Friday it has closed a 14-month investigation into a series of minor collisions and unexpected behavior from Alphabet's Waymo self-driving vehicles without taking further action. The U.S. auto safety regulator in May 2024 opened an investigation after 22 reports about Waymo robotaxis exhibiting driving behavior that potentially violated traffic safety laws, or demonstrating other "unexpected behavior," including 17 collisions. NHTSA cited two recalls issued by Waymo and the agency's analysis of available data in closing the investigation, including a 2024 recall to address a collision with a utility pole. The agency also cited Waymo's May recall of more than 1,200 vehicles that updated software to improve detection and avoidance of roadway barriers, such as chains strung across the path of travel, gates, and other gate-like roadway barriers. "At Waymo we are committed to prioritizing safety and we're pleased that NHTSA has concluded their investigation and closed our case," a spokesperson said Friday. NHTSA's probe covered potential traffic safety law violations by Waymo vehicles and unexpected responses to traffic control devices and issues when entering construction zones. The agency said last year that several incidents "involved collisions with clearly visible objects that a competent driver would be expected to avoid." Waymo has over 1,500 vehicles on the road across San Francisco, Los Angeles, Phoenix and Austin, Texas, and is running more than 250,000 fully autonomous paid rides a week. It hopes to add service in New York, Miami and Washington, D.C. and launched service with Uber last month in Atlanta. Self-driving vehicle companies, including Waymo and General Motors have come under increased regulatory scrutiny following a 2023 incident where a pedestrian was seriously injured by a Cruise vehicle. GM cut Cruise's funding and folded it into its broader operations.
