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Coca-Cola tops sales estimates

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By Reuters
Coca-Cola tops sales estimates
A man walks in the Coca Cola factory in Nairobi, Kenya, June 7, 2018. Picture taken June 7, 2018. REUTERS/Baz Ratner   -   Copyright  BAZ RATNER(Reuters)

(Reuters) – Coca-Cola Co <KO.N> reported quarterly sales that topped Wall Street estimates on Tuesday, as more consumers reached for new versions of its sugar-free sodas and sparkling water.

Volumes, a key indicator of demand, grew 2 percent in the third quarter ended Sept. 28 on strong performance of its trademark Coca-Cola brand.

Revenue fell 9 percent to $8.2 billion (6.4 billion pounds), hurt by the divestiture of its low-margin bottling operations.

Analysts had estimated sales of $8.17 billion, according to Refinitiv estimates.

(Reporting by Aishwarya Venugopal in Bengaluru; Editing by Sriraj Kalluvila)