Sports Drinks Boost Coca-Cola to $11B Quarter

Article From：Front Office 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.