Coca-Cola reported better-than-expected earnings in the second quarter as higher prices offset weaker sales volumes.
Case volumes fell 1% globally and 1% in North America, but Coke said Tuesday that pricing rose 6% for the April-June period.
Global case volumes of Coca-Cola fell 1%, mostly due to weaker sales in Latin America. One bright spot was Coca-Cola Zero Sugar, which saw volumes grow 14%.
Traditional Coca-Cola still far outsells the zero-sugar variety, but consumer demand for zero-sugar versions is growing much more quickly.
So it was surprising last week when President Donald Trump said in a social media post that Coca-Cola had agreed to use real cane sugar in its flagship product in the U.S. instead of high-fructose corn syrup. Coke has yet to confirm any such change, but promised new offerings soon.
Global case volumes of juice, dairy and plant-based beverages fell 4%, Coke said. Sports drink case volumes