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.