Coca-Cola says the FIFA World Cup boosted sales of its signature soda

Cans of Coca-Cola are on display at a grocery market in Uniontown, Pa, April 24, 2022. (AP Photo/Gene J. Puskar, File)

Coca-Cola’s CEO says the Atlanta-based drinks giant saw a big boost during the World Cup, despite customers cutting back on snacks and beverages amid economic uncertainty.

During the company’s Tuesday earnings call, CEO Henrique Braun credits this summer’s World Cup for lifting sales of its signature soda and sports drinks.

“Activating around the FIFA World Cup contributed to trademark Coca-Cola volume growth of 5% for the quarter, its strongest volume growth in 17 years, excluding COVID recovery,” said Braun.



According to Coke, it has been advertised in stadiums at every FIFA World Cup since 1950. Officials say digital activations generated more than 60 billion impressions and over nine billion views, supported by more than 2,500 content creators that helped the Atlanta beverage giant deliver strong Q2 results as the company is raising its full-year outlook.

While some major food and drinks brands like competitor PepsiCo are seeing consumers pull back, the Coca-Cola Company saw global volume grow 5% and net revenues of over $13 billion in the quarter that ended June 30.

“While we continue to see a dynamic consumer landscape, we leveraged our powerful brands and system to gain value share, delivering revenue, profit and earnings growth while also investing for the long term,” said Braun.

Water, sports drinks, coffee and tea also grew 6% in the quarter.

Meanwhile, Coke says following a pause in US production of its milk brand Fairlife, operations are starting again.

“The majority of production operations have resumed at our four facilities in the US and retail availability has been largely unimpacted. There was no impact to our second quarter results, nor do we anticipate any material impact to our results in the second half,” said John Murphy, president and chief financial officer of The Coca‑Cola Company.