• Loading stock data...
Tuesday, July 23, 2024
Join us this September for Tuned In Request to Attend

Powerade, BODYARMOR Pour into Coke’s $11.3B Quarter

  • Coca-Cola reported $11.3 billion in second-quarter revenue.
  • The company's sports drink segment grew 7%.
Coca Cola
Jay Biggerstaff-USA TODAY Sports

Coca-Cola reported $11.3 billion in second-quarter revenue Tuesday, outpacing analysts’ estimates of $10.56 billion and growing 12% from the same period last year. 

The company’s sports drink segment grew 7%, primarily attributed to the growth of BODYARMOR and Powerade.

After purchasing 15% of BODYARMOR in 2018, the company acquired the brand’s remaining shares for $5.6 billion in November 2021. Coca-Cola’s earnings report is BODYARMOR’s second full quarter under the brand.

  • During the three months that ended July 1, 2022, Coca-Cola recorded net charges of $13 million related to the acquisition. 
  • The charges include transition and transaction costs, employee retention costs, and “the amortization of noncompete agreements, net of the reimbursement of distributor termination fees.”

Net income reached $1.91 billion, down from the $2.62 billion it recorded one year ago. The company said its second-quarter revenue grew due to higher pricing and an increase in global case volume.

Coca-Cola raised its full-year outlook, expecting organic revenue growth of 12% to 13% compared to its previous guidance of 7% to 8%.

Pixel Pour

During the quarter, Coca-Cola released a new flavor called Byte, which is supposed to taste like pixels. The drink appeared globally on Pixel Point, an island in the video game “Fortnite.” The company previously stated the flavor was inspired by the global gaming community.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

The FTC Noncompete Ruling Could Change MMA As We Know It

Fighters could see their options—and earnings—grow.

The Road to the Return of ‘EA Sports College Football’

This summer, the biggest development in college sports is virtual.
podcast thumbnail mobile
Front Office Sports Today

WNBA ASG, Paris Olympics Continue Rise of Women’s Basketball

0:00

Featured Today

Jan 7, 2024; Nashville, Tennessee, USA; Jacksonville Jaguars wide receiver Calvin Ridley (0) reacts after scoring a touchdown against the Tennessee Titans during the first half at Nissan Stadium.

Without Hard-Line Bans, Pro Athletes and Personnel Will Keep Betting on Sports

Penalties often aren’t stringent or consistent enough to deter banned behavior.
Oct 2, 2021; Miami Gardens, FL, USA; NFL commissioner Roger Goddell speaks during the Don Shula Celebration of Life at Hard Rock Stadium.
July 13, 2024

The NFL Is Confident It Can Overturn the Sunday Ticket Verdict

The league may have good reason to believe it can win.
July 8, 2024

NFLPA Report Cards Have Become the ‘Talk of the Locker Room’ Across..

NFLPA report cards have become the ‘talk of the locker room.’
July 7, 2024

The New College Sports Insiders Are Graphic Designers

Joe Tipton and Hayes Fawcett have become premier news-breakers on social media.

Mets Owner Buys Chunk of Knicks Owner’s Las Vegas Sphere

Cohen made the investment through his hedge fund, Point72.
May 20, 2024

Fanatics Sues Marvin Harrison Jr., Says He Leaked ‘Misleading’ Info to ESPN

Harrison’s side says the two sides don’t have a contract, which Fanatics disputes.
Sep 10, 2023; Flushing, NY, USA; Novak Djokovic of Serbia reacts towards his player's box during a changeover against Daniil Medvedev (not pictured) in the men's singles final on day fourteen of the 2023 U.S. Open tennis tournament at USTA Billie Jean King National Tennis Center.
May 29, 2024

Ticketmaster Causes Eras Tour–Like Disappointment in Tennis, One Week After DOJ Lawsuit

Tennis fans struggled to get tickets during the US Open presale.
Sponsored

TopSpin 2K25 Brings the Legends of Tennis to Your Living Room

2K sports is reviving a classic with TopSpin 2K25.
April 19, 2024

Nike Cuts Over 700 Jobs In Second Phase of Layoffs

“Nike’s always at our best when we’re on the offense,” the company says.
March 1, 2024

The Next Women’s Sports Bar Is Inspired by Tennis’s Barrier Breaker

Althea Gibson is the namesake for a bar opening in New York.
December 28, 2023

2023 In Review: U.S. Sports Betting Goes Full Tilt

The arrival of ESPN Bet and Fanatics Sportsbook highlights a year of transformation for the business.
Fanatics is buying auction marketplace PWCC.
December 14, 2023

Trading Card Wars Unfold As Panini and Fanatics Clash in Legal Battles

Fanatics and Panini are embroiled in a lawsuit.