ATLANTA, Oct. 26, 2016 – The Coca-Cola Company today reported third quarter 2016 operating results. "I am pleased to report that we delivered results in line with our expectations," said Muhtar Kent, Chairman and Chief Executive Officer of The Coca-Cola Company. "We continued to see solid revenue results in our developed markets with 2% unit case volume growth and a continued focus on price realization. The United States, Japan and Western Europe delivered standout performance underpinned by innovation and world-class marketing. Globally, we gained nonalcoholic ready-to-drink value share for the 37th consecutive quarter and are on track to deliver our financial commitments for the full year."
"While our year-to-date reported net revenues declined 5%, our core business organic revenues* have grown 4% despite continued global economic and political volatility. We believe this core business reflects the ultimate destination of our transformed company – an enterprise positioned to capture sustainable growth through a laser focus on innovating across our portfolio, building strong brands, and leveraging unparalleled customer service through aligned bottlers. As we continue on our path to transform the global system, we remain committed to our strategic actions for growth that will create long-term shareowner and stakeholder value."
Coca-Cola (often referred to simply as Coke) is a carbonated soft drink produced by The Coca-Cola Company of Atlanta, Georgia. Originally intended as a patent medicine when it was invented in the late 19th century by John Pemberton, Coca-Cola was bought out by businessman Asa Griggs Candler, whose marketing tactics led Coke to its dominance of the world soft-drink market throughout the 20th century. The name refers to two of its original ingredients: kola nuts, a source of caffeine, and coca leaves. The current formula of Coca-Cola remains a trade secret, although a variety of reported recipes and experimental recreations have been published.
The company produces concentrate, which is then sold to licensed Coca-Cola bottlers throughout the world. The bottlers, who hold exclusive territory contracts with the company, produce finished product in cans and bottles from the concentrate in combination with filtered water and sweeteners. A typical 12 oz (355 ml) can contains 38g of sugar (usually in the form of HFCS). The bottlers then sell, distribute and merchandise Coca-Cola to retail stores, restaurants and vending machines. The Coca-Cola Company also sells concentrate for soda fountains to major restaurants and food service distributors.
The Coca-Cola Company has, on occasion, introduced other cola drinks under the Coke brand name. The most common of these is Diet Coke, with others including Caffeine-Free Coca-Cola, Diet Coke Caffeine-Free, Coca-Cola Cherry, Coca-Cola Zero, Coca-Cola Vanilla, and special versions with lemon, lime, or coffee. In 2013, Coke products could be found in over 200 countries worldwide, with consumers downing more than 1.8 billion company beverage servings each day.