• Loading stock data...
Wednesday, December 4, 2024

Coca-Cola Pours It On With Sports Drinks in Q1

Coca-Cola
Darren Yamashita-USA TODAY Sports

Coca-Cola reported $10.5 billion in first-quarter revenue, beating analysts’ estimates of $9.83 billion. 

The company’s sports drinks segment, which includes BODYARMOR and Powerade, grew 22% during the quarter, and hydration products increased 8%.

  • Sports drinks and sparkling soft drinks led growth for the quarter in North America.
  • Hydration’s growth was predominant in Latin America, Europe, the Middle East, and Africa.

After the beverage giant first bought a 15% stake in 2018 to become BODYARMOR’s second-largest shareholder, Coca-Cola acquired the remaining shares in November for $5.6 billion. Coca-Cola’s earnings report marks BODYARMOR’s first full-quarter under the brand.

Cheers to Metaverse

As Coca-Cola’s sports drink segment continues to grow, so does its product innovation. Last month, Coca-Cola’s Byte appeared globally on Pixel Point, an island in the “Fortnite” game. The drink, which is set to be released in the U.S. next month, is supposed to taste like pixels. It’s currently only available (in real life) in select Latin American countries.

The company, which also has a partnership with game developer Riot Games, describes Byte as the “first-ever Coca-Cola flavor born in the metaverse.”

CEO James Quincey said during the earnings call that the company is trying to invest in brands so Coke drinkers will pay more, reasoning that a price hike is more favorable now than in a recession.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Dec 18, 2022; Lusail, Qatar; FIFA president Gianni Infantino claps during the awards ceremony after the 2022 World Cup final between Argentina and France at Lusail Stadium.

FIFA Wants More Matches. Resistance Is Growing Inside the Global Soccer World

Resentment and frustration over expanded schedules is nearing a breaking point.

U.S. Investors Are Gunning for England’s Small Soccer Clubs

Is another Hollywood-like success story possible among the U.K.’s smallest clubs?
Nov 1, 2024; Boise, Idaho, USA; Boise State Broncos running back Ashton Jeanty (2) leads the team onto the field prior to the first quarter against the San Diego State Aztecs at Albertsons Stadium.

Schools Are Scrambling to Prepare for the NCAA Revenue-Sharing Era

In the post–House v. NCAA world, “everyone’s kind of on their own.”
Nov 4, 2024; Kansas City, Missouri, USA; Recording artist Taylor Swift arrives prior to a game between the Tampa Bay Buccaneers and the Kansas City Chiefs at GEHA Field at Arrowhead Stadium.

The PWHL Could Be Inviting a Date With Taylor Swift’s Legal Team

The Toronto Sceptres may have opened a Pandora’s box of trademark issues.

Featured Today

Can an Elite Women’s Soccer School Survive the New College Sports Moneyball?

Santa Clara faces an uphill battle in the new college sports landscape.
Nov 16, 2024; Washington, District of Columbia, USA; Washington Spirit forward Trinity Rodman (2) celebrates after defeating NJ/NY Gotham FC in a 2024 NWSL Playoffs semifinal match at Audi Field. Mandatory Credit:
November 22, 2024

The Washington Spirit’s Business Makeover Carried Them to the Finals

The team’s return to the NWSL championship looks a lot different from 2021.
Nov 18, 2023; Las Vegas, Nevada, USA; Williams Racing driver Logan Sargeant of the United States (2) during the Las Vegas Grand Prix at Las Vegas Strip Circuit.
November 21, 2024

F1 Grand Prix Upended Vegas Last Year. Stakes Are High for Its..

Stakes are high as F1 gears up for a successful second act.
Classic Football Shirts New York Pop-Up
November 18, 2024

Vintage Soccer Jerseys Have Found a Sweet Spot in the Lucrative U.S...

The money-making shirts are at the prime intersection of memorabilia and fashion.
Peloton Bike

Peloton Earnings Beat Expectations As It Still Loses Subscribers

Peloton tapped Peter Stern, former Ford executive and cofounder of Apple Fitness+, to be its new CEO.
A view of a Nike retail store in New York City.
August 15, 2024

Nike Shares Surge As Bill Ackman Invests, Igniting Turnaround Hopes

The billionaire hedge-fund executive holds significant influence in the market.
September 4, 2024

Under Armour Sells MapMyFitness Back to Founders 11 Years Later

The founders sold the tracking app to the apparel giant in 2013.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
August 13, 2024

Federer’s On Brand Continues Surge, Challenging Sportswear Giants

Earnings weren’t all positive for On, causing a dip in its premarket stock price.
Peloton
May 2, 2024

Peloton Timeline: CEO Changes, Layoffs, Recalls, and Falling Stocks

The company has fallen from grace after roaring success in 2020.
October 18, 2023

Peloton To Bring Live Sports To Its Fitness Devices

NBA League Pass will be available to watch on Peloton devices.
August 10, 2023

Alternative Golf Venues Thriving ‘Off-Course’ By Attracting Younger Players

In 2022, 15.5 million people participated in off-course golf activities.