Soccer purists spent June and July complaining that World Cup hydration breaks turned fast-moving matches into stop-start slogs padded with extra commercial time.
Broadcasters cashed in on those minutes
So did Coca-Cola, the tournament’s longtime beverage sponsor, whose in-stadium marketing during those very breaks helped power one of the more unusual quarters in the company’s recent history. Coca-Cola is a 64-year Dividend King, the kind of stock retirees hold for consistency rather than surprises. Its latest numbers were not consistent in the usual sense.
Volume, revenue and profit accelerated together, and management raised its full-year outlook for the second time this year. Coca-Cola revenue and profit grew faster than company’s own targets Second-quarter net revenue climbed 7% to $13.4 billion, according to Coca-Cola’s earnings release. Comparable earnings per share rose 11% to 97 cents, beating Wall Street estimates by five cents, Reuters reported.