Dive Brief:
- Coca-Cola Co. said revenue fell 1.4% in the most-recent quarter to $12.6 billion, slightly below analysts expectations.
- The world's largest beverage company put most of the blame for the disappointing results on the continuing decline in sales of its Diet Coke brand.
- There were some silver linings in the earnings cloud: Global sales volume rose 3%, and sales of its flagship Coke brand climbed 1% in North America.
Dive Insight:
One item that was noticeable for its absence from the earnings call was the much-anticipated announcement of the debut of the Coke Life product here in the States. Coke Life, sweetened with stevia, is being tested in a number of markets, notably Argentina. And beverage industry watchers have placed considerable hope in the product as a remedy for the drop in diet drinks.