• Loading stock data...
Monday, June 24, 2024

Sports Drinks Boost Coca-Cola to $11B Quarter

  • Coca-Cola generated $11.1 billion in revenue in Q3 2022 — a 10% increase year-over-year.
  • The beverage giant reported a net income of $2.83 billion, compared to $2.47 billion in Q3 2021.
Soobum Im-USA TODAY Sports

Coca-Cola continues to rack up revenue from its sports drinks segment.

The beverage giant generated $11.1 billion in revenue in Q3 2022 — a 10% increase year-over-year and surpassing Wall Street estimates of $10.52 billion. Sports drinks — which include BODYARMOR, Powerade, and Aquarius — grew 6% during the quarter. 

  • The company reported net income of $2.83 billion, compared to $2.47 billion in Q3 2021.
  • Earnings per share reached 69 cents in Q3 2022, up from a projected 64 cents.
  • Cash flow from operations was $8.1 billion year-to-date, down $1.2 billion year-over-year.

In 2018, Coca-Cola purchased a 15% stake in BODYARMOR, becoming the brand’s second-largest shareholder. Coca-Cola acquired the remaining shares in November 2021 for $5.6 billion, valuing BODYARMOR — which sponsors professional athletes like Mookie Betts, Naomi Osaka, and others — at $8 billion.

The brand also has deals with UFC and MLS

Round the World 

Coca-Cola helped launch the World Cup Trophy Tour, which will visit 51 countries and territories prior to the 2022 FIFA World Cup in Qatar. 

The tour began at FIFA’s headquarters in Switzerland and will end in Doha days before the World Cup. The tournament begins Nov. 20 and runs through Dec. 18.

Copy Link
Link Copied
Link Copied

What to Read

Everton FC owner Farhad Moshiri stands on the pitch at Goodison Park Stadium.

Another U.S. Takeover? Houston-Based Group in Talks With Everton

The English soccer club continues to look for a new owner.

Clark vs. Reese: Priciest WNBA Game Set for Record-Breaking Viewership

Ticket pricing has already set a league record, while viewership expectations are lofty.

MLB’s Rickwood Game Plans Change Significantly After Passing of Mays

The special-event game at the historic Negro League park follows the death of the iconic Willie Mays.
podcast thumbnail mobile
Front Office Sports Today

Clock is Ticking to Restart Coyotes’ Franchise


Featured Today

Jan 3, 2022; Pittsburgh, Pennsylvania, USA; General view of the NFL shield logo signage before the Pittsburgh Steelers host the Cleveland Browns at Heinz Field.

Odds Stacked Against NFL in Multibillion-Dollar Sunday Ticket Trial

Why the class action trial does not look promising for the league.
Jan 7, 2024; San Francisco, California, USA; Toronto Raptors forward Jontay Porter (11) takes a three-point shot against the Golden State Warriors during the second half at Chase Center.
June 9, 2024

‘Bound to Happen’: The Age of the Sports Betting Scandal Has Arrived

A banishment, betting scheme, and guilty plea all in one scandal-filled span.
June 8, 2024

‘Experimental in Nature’: The Rapid, Confounding Rise of Streaming Bundles

Here’s why confusion continues to outweigh solutions in the streaming package boom.
June 2, 2024

The Nostalgia Market: Michael Jordan’s Memorabilia Remains Coveted, With Caveats

Due to scarcity, and sometimes, items’ undisclosed whereabouts, this world has limitations.

Silver Lake to Take Endeavor Private, Ending Tough Stock Market Run

Private equity giant Silver Lake is set to acquire the remaining shares it didn’t already own.
Exterior of Nike Company Store
February 16, 2024

Nike to Lay Off 2% of Its Workforce in Cost-Savings Effort

The sportswear giant hinted at staff cuts in a December earnings call.
February 16, 2024

DraftKings Trends Toward the Black, Buys Lottery App

The sports gambling giant continues to narrow its losses.

How HOKA is Reimagining the NIL Relationship

HOKA, the renowned athletic footwear and apparel brand, is betting on a new reality with NIL.
February 7, 2024

ESPN DTC to Debut by Fall 2025, but Streaming Alliance Hastens Market Entry

Date set for stand-alone version of network, but new joint venture will beat that by a year.
January 22, 2024

They Make Sports Balls—and They Could Be Worth Almost $9 Billion

Amer Sports looks to raise as much as $1.8 billion in the public markets.
A view of a FanDuel sportsbook location.
January 18, 2024

FanDuel Strengthens U.S. Dominance Ahead of NYSE Debut

Flutter posts strong financial results as NYSE shares are set to debut Jan. 29.
The swoosh logo at Nike Eugene.
September 28, 2023

Nike Misses Revenue Wall Street’s Projections, But Company’s Stock Soar

The company offset the shortfall by exceeding expectations in earnings per share.